Boston Scientific’s (BSX) “Buy” Rating Reaffirmed at Needham & Company LLC

Boston Scientific (NYSE:BSXGet Free Report)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $82.00 price objective on the medical equipment provider’s stock. Needham & Company LLC’s target price points to a potential upside of 7.39% from the company’s previous close.

BSX has been the subject of several other reports. UBS Group raised their price objective on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Argus increased their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. TD Cowen lifted their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Evercore ISI increased their price target on shares of Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, Barclays lifted their price objective on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.70.

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Boston Scientific Price Performance

BSX stock traded up $0.17 on Tuesday, reaching $76.36. 2,390,645 shares of the company’s stock were exchanged, compared to its average volume of 6,253,470. The stock has a fifty day moving average of $73.24 and a 200-day moving average of $66.30. The firm has a market cap of $112.03 billion, a PE ratio of 64.17, a P/E/G ratio of 2.64 and a beta of 0.81. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $77.64.

Boston Scientific (NYSE:BSXGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. As a group, equities analysts predict that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP John Bradley Sorenson sold 17,587 shares of Boston Scientific stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the transaction, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,620,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. Insiders sold a total of 81,627 shares of company stock worth $5,937,353 over the last ninety days. 0.50% of the stock is owned by company insiders.

Institutional Trading of Boston Scientific

Several large investors have recently modified their holdings of BSX. Pinnacle Associates Ltd. increased its holdings in Boston Scientific by 2.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 148 shares during the last quarter. KCM Investment Advisors LLC grew its position in shares of Boston Scientific by 1.7% in the 1st quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock worth $632,000 after acquiring an additional 150 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of Boston Scientific by 24.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 826 shares of the medical equipment provider’s stock worth $57,000 after purchasing an additional 160 shares during the period. BSW Wealth Partners boosted its holdings in shares of Boston Scientific by 2.3% in the 4th quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock valued at $428,000 after buying an additional 165 shares during the period. Finally, Allstate Corp lifted its holdings in Boston Scientific by 2.9% in the fourth quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock worth $343,000 after acquiring an additional 165 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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