Boston Scientific (NYSE:BSX) Upgraded at StockNews.com

StockNews.com upgraded shares of Boston Scientific (NYSE:BSX) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

BSX has been the subject of several other reports. Robert W. Baird raised their target price on Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Needham & Company LLC boosted their price target on Boston Scientific from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Raymond James raised their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Finally, Truist Financial boosted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Twenty-three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $114.52.

Boston Scientific Price Performance

BSX stock opened at $103.16 on Tuesday. The stock’s fifty day simple moving average is $98.51 and its 200-day simple moving average is $95.24. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific has a 52-week low of $70.97 and a 52-week high of $107.17. The stock has a market capitalization of $152.59 billion, a price-to-earnings ratio of 82.53, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Boston Scientific’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share. Equities research analysts expect that Boston Scientific will post 2.85 EPS for the current year.

Insider Activity

In other news, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 15,087 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the transaction, the chief financial officer now directly owns 241,451 shares of the company’s stock, valued at $25,369,256.57. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 138,009 shares of company stock valued at $14,407,381. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors have recently added to or reduced their stakes in the stock. Parnassus Investments LLC raised its stake in shares of Boston Scientific by 0.7% in the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after acquiring an additional 97 shares during the last quarter. HM Payson & Co. boosted its position in Boston Scientific by 1.4% in the 1st quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider’s stock valued at $694,000 after buying an additional 98 shares during the last quarter. Baldwin Investment Management LLC increased its stake in shares of Boston Scientific by 1.2% in the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after buying an additional 102 shares during the period. Park Square Financial Group LLC raised its position in shares of Boston Scientific by 5.2% during the first quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider’s stock worth $208,000 after acquiring an additional 103 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in shares of Boston Scientific by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock valued at $565,000 after purchasing an additional 106 shares during the last quarter. 89.07% of the stock is 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.