Boston Scientific Corporation (NYSE:BSX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Boston Scientific Corporation (NYSE:BSX) have been given a consensus recommendation of “Buy” by the twenty-six research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $121.6087.

A number of brokerages have weighed in on BSX. Raymond James Financial upped their price target on Boston Scientific from $121.00 to $124.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 24th. Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Evercore ISI lowered their price target on Boston Scientific from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 7th. Robert W. Baird upped their price target on Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Finally, Canaccord Genuity Group upped their price target on Boston Scientific from $131.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $99.88 on Wednesday. The business has a fifty day simple moving average of $101.19 and a 200 day simple moving average of $101.83. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $148.00 billion, a price-to-earnings ratio of 59.45, a PEG ratio of 2.42 and a beta of 0.61. Boston Scientific has a one year low of $80.64 and a one year high of $109.50.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%.The firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the business posted $0.62 earnings per share. The business’s revenue was up 22.8% compared to the same quarter last year. Sell-side analysts expect that Boston Scientific will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other news, Director Yoshiaki Fujimori sold 2,901 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total transaction of $310,377.99. Following the sale, the director owned 2,081 shares in the company, valued at approximately $222,646.19. This represents a 58.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward J. Ludwig sold 4,000 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $106.03, for a total value of $424,120.00. Following the sale, the director owned 18,479 shares in the company, valued at $1,959,328.37. The trade was a 17.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,214 shares of company stock worth $17,972,457 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Large investors have recently made changes to their positions in the business. Steph & Co. bought a new position in Boston Scientific in the third quarter valued at about $25,000. Financial Consulate Inc. bought a new position in Boston Scientific in the third quarter valued at about $25,000. 1248 Management LLC bought a new position in Boston Scientific in the first quarter valued at about $26,000. FWL Investment Management LLC bought a new position in Boston Scientific in the second quarter valued at about $26,000. Finally, Y.D. More Investments Ltd bought a new position in Boston Scientific in the first quarter valued at about $27,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Company Profile

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.