Boston Scientific Co. (NYSE:BSX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Boston Scientific Co. (NYSE:BSX) have received a consensus recommendation of “Moderate Buy” from the twenty analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $87.10.

Several research firms have recently weighed in on BSX. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Raymond James lifted their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Evercore ISI increased their price objective on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, BTIG Research boosted their target price on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 15th.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $84.55 on Friday. The stock has a market cap of $124.04 billion, a price-to-earnings ratio of 71.05, a PEG ratio of 2.78 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $84.89. The stock’s 50 day moving average price is $80.07 and its 200 day moving average price is $75.80.

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

Insider Buying and Selling 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 shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 20,949 shares of company stock valued at $1,673,685 in the last quarter. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BSX. Triad Wealth Partners LLC bought a new position in shares of Boston Scientific during the 2nd quarter valued at $26,000. First Foundation Advisors acquired a new position in Boston Scientific during the first quarter worth $25,000. Eagle Bay Advisors LLC raised its holdings in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares in the last quarter. Andra AP fonden acquired a new stake in shares of Boston Scientific in the second quarter worth about $29,000. Finally, Lynx Investment Advisory bought a new stake in shares of Boston Scientific during the 2nd quarter worth about $30,000. 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.