StockNews.com Lowers Boston Scientific (NYSE:BSX) to Hold

StockNews.com cut shares of Boston Scientific (NYSE:BSXFree Report) from a buy rating to a hold rating in a research report sent to investors on Sunday morning.

Several other brokerages have also recently issued reports on BSX. Wells Fargo & Company increased their price objective on Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Robert W. Baird increased their price target on Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. Barclays lifted their price objective on Boston Scientific from $70.00 to $78.00 and gave the company an overweight rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Boston Scientific from $63.00 to $73.00 and gave the stock a hold rating in a report on Thursday, April 25th. Finally, Needham & Company LLC boosted their price target on shares of Boston Scientific from $71.00 to $82.00 and gave the company a buy rating in a report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $76.70.

View Our Latest Analysis on BSX

Boston Scientific Price Performance

BSX opened at $76.34 on Friday. The business has a fifty day moving average of $73.39 and a 200 day moving average of $66.45. The stock has a market cap of $112.00 billion, a P/E ratio of 64.15, a PEG 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 52-week low of $48.35 and a 52-week high of $77.64.

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

Insider Activity

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the sale, the executive vice president now owns 20,197 shares in the company, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Insiders have sold a total of 81,627 shares of company stock worth $5,937,353 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently bought and sold shares of the business. Eagle Bay Advisors LLC raised its holdings in shares of Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. First Foundation Advisors acquired a new position in shares of Boston Scientific in the 1st quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at about $28,000. RiverPark Advisors LLC purchased a new stake in shares of Boston Scientific in the first quarter worth about $30,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Boston Scientific during the first quarter worth about $31,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

About Boston Scientific

(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.

Read More

Analyst Recommendations for Boston Scientific (NYSE:BSX)

Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.