Boston Scientific (NYSE:BSX) Stock Rating Lowered by StockNews.com

Boston Scientific (NYSE:BSX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Several other equities analysts also recently commented on the company. Truist Financial upped their price objective on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Barclays upped their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Morgan Stanley lifted their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, TD Cowen increased their price objective on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and an average target price of $86.65.

Boston Scientific Trading Up 0.1 %

BSX stock opened at $84.00 on Tuesday. The firm’s fifty day simple moving average is $78.84 and its two-hundred day simple moving average is $74.84. The stock has a market capitalization of $123.24 billion, a price-to-earnings ratio of 70.59, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $84.89.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 20,949 shares of company stock valued at $1,627,877 in the last 90 days. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of large investors have recently modified their holdings of the business. CVA Family Office LLC increased its holdings in shares of Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after purchasing an additional 131 shares during the period. International Assets Investment Management LLC lifted its stake in Boston Scientific by 0.6% during the 2nd quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after acquiring an additional 139 shares during the period. ST Germain D J Co. Inc. boosted its holdings in shares of Boston Scientific by 8.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after acquiring an additional 143 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after acquiring an additional 148 shares during the period. Finally, Transcend Capital Advisors LLC raised its holdings in shares of Boston Scientific by 2.2% during the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.