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

Shares of Boston Scientific Co. (NYSE:BSX) have earned a consensus rating of “Moderate Buy” from the twenty-three brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $97.26.

A number of research firms have recently issued reports on BSX. Evercore ISI raised 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, October 1st. Bank of America lifted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Morgan Stanley increased their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Sanford C. Bernstein lifted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company increased their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th.

Boston Scientific Price Performance

Shares of BSX opened at $95.14 on Monday. The company has a market cap 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 has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $89.96 and its 200 day simple moving average is $83.89. Boston Scientific has a 1-year low of $59.39 and a 1-year high of $97.13.

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

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,989 shares of company stock valued at $2,702,261 over the last quarter. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Institutional investors have recently added to or reduced their stakes in the stock. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific during the third quarter valued at about $28,000. Dunhill Financial LLC raised its holdings in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 152 shares during the last quarter. Global Wealth Strategies & Associates boosted its position in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in Boston Scientific during the 3rd quarter worth approximately $30,000. Finally, Capital Performance Advisors LLP acquired a new position in Boston Scientific in the 3rd quarter valued at approximately $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.