Boston Scientific (NYSE:BSX) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Boston Scientific (NYSE:BSX) from a buy rating to a hold rating in a report released on Saturday.

BSX has been the subject of several other research reports. Morgan Stanley raised their price objective on shares of Boston Scientific from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Oppenheimer upgraded Boston Scientific from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $118.00 to $125.00 in a report on Monday, September 8th. BTIG Research reissued a “buy” rating and issued a $132.00 price target on shares of Boston Scientific in a research note on Friday, November 21st. Erste Group Bank lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Canaccord Genuity Group reduced their price target on Boston Scientific from $132.00 to $131.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $124.85.

Boston Scientific Stock Performance

BSX stock opened at $96.46 on Friday. Boston Scientific has a 1-year low of $85.98 and a 1-year high of $109.50. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The firm has a market cap of $142.99 billion, a PE ratio of 51.58, a P/E/G ratio of 1.93 and a beta of 0.67. The business’s 50-day moving average price is $98.67 and its two-hundred day moving average price is $101.21.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same quarter last year, the firm posted $0.63 earnings per share. Boston Scientific’s revenue was up 20.3% compared to the same quarter last year. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS and its Q4 2025 guidance at 0.770-0.790 EPS. As a group, research analysts forecast that Boston Scientific will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the transaction, the executive vice president owned 178,342 shares of the company’s stock, valued at $17,739,678.74. The trade was a 21.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellen M. Zane sold 12,891 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total value of $1,266,927.48. Following the completion of the sale, the director directly owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. The trade was a 34.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 143,095 shares of company stock worth $14,228,950 over the last quarter. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Scientific

A number of large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new position in shares of Boston Scientific in the third quarter valued at $214,000. Hudson Bay Capital Management LP boosted its holdings in shares of Boston Scientific by 9.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 485,906 shares of the medical equipment provider’s stock worth $47,439,000 after buying an additional 42,806 shares during the period. Saranac Partners Ltd bought a new stake in shares of Boston Scientific during the 3rd quarter worth about $5,951,000. Allworth Financial LP grew its stake in Boston Scientific by 2.9% in the 3rd quarter. Allworth Financial LP now owns 40,094 shares of the medical equipment provider’s stock valued at $3,914,000 after buying an additional 1,133 shares during the last quarter. Finally, Strategic Advocates LLC raised its holdings in Boston Scientific by 12.6% in the 3rd quarter. Strategic Advocates LLC now owns 24,107 shares of the medical equipment provider’s stock valued at $2,354,000 after acquiring an additional 2,697 shares during the period. Institutional investors own 89.07% of the company’s stock.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.