Boston Scientific (NYSE:BSX) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Boston Scientific (NYSE:BSX) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Other research analysts have also recently issued reports about the stock. Sanford C. Bernstein increased their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday. Evercore ISI increased their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Raymond James increased their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Robert W. Baird increased their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Price Performance

NYSE BSX opened at $84.73 on Thursday. Boston Scientific has a 52 week low of $49.15 and a 52 week high of $88.79. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The stock has a market cap of $124.31 billion, a price-to-earnings ratio of 71.20, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The company has a 50-day moving average price of $83.47 and a two-hundred day moving average price of $77.80.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. Analysts forecast that Boston Scientific will post 2.4 EPS for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 316,253 shares of company stock valued at $26,714,298. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors have recently modified their holdings of BSX. Park Avenue Securities LLC boosted its stake in shares of Boston Scientific by 12.8% during the 1st quarter. Park Avenue Securities LLC now owns 12,435 shares of the medical equipment provider’s stock valued at $852,000 after buying an additional 1,413 shares during the period. Brookstone Capital Management raised its holdings in shares of Boston Scientific by 35.0% during the 1st quarter. Brookstone Capital Management now owns 14,300 shares of the medical equipment provider’s stock valued at $979,000 after purchasing an additional 3,710 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Boston Scientific by 10.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 66,024 shares of the medical equipment provider’s stock valued at $4,522,000 after purchasing an additional 6,485 shares in the last quarter. 180 Wealth Advisors LLC raised its holdings in shares of Boston Scientific by 36.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 5,621 shares of the medical equipment provider’s stock valued at $385,000 after purchasing an additional 1,504 shares in the last quarter. Finally, Courier Capital LLC raised its holdings in shares of Boston Scientific by 22.5% during the 1st quarter. Courier Capital LLC now owns 11,399 shares of the medical equipment provider’s stock valued at $781,000 after purchasing an additional 2,096 shares in the last quarter. Institutional investors and hedge funds 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.