Boston Scientific (NYSE:BSX) Upgraded at Deutsche Bank Aktiengesellschaft

Boston Scientific (NYSE:BSX) was upgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research report issued on Friday, Marketbeat.com reports. The firm presently has a $108.00 price objective on the medical equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 13.52% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus boosted their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. BTIG Research boosted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Sanford C. Bernstein boosted their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Truist Financial boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.26.

Boston Scientific Stock Performance

NYSE:BSX opened at $95.14 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a market capitalization of $140.22 billion, a price-to-earnings ratio of 78.63, a PEG ratio of 2.67 and a beta of 0.80. The company’s 50-day moving average is $89.96 and its two-hundred day moving average is $83.84. Boston Scientific has a 1-year low of $59.39 and a 1-year high of $97.13.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. Analysts forecast that Boston Scientific will post 2.46 EPS for the current year.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,989 shares of company stock valued at $2,702,261 in the last ninety days. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BSX. Marshall Wace LLP grew its position in Boston Scientific by 115.9% during the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after purchasing an additional 3,608,158 shares during the last quarter. AustralianSuper Pty Ltd grew its position in Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after purchasing an additional 2,615,903 shares during the last quarter. Ameriprise Financial Inc. grew its position in Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after purchasing an additional 1,824,405 shares during the last quarter. State Street Corp boosted its holdings in shares of Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after acquiring an additional 1,091,561 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.