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 published on Wednesday morning.

Other equities analysts have also issued reports about the company. Citigroup upped their target price on Boston Scientific from $87.00 to $90.00 and gave the company a buy rating in a report on Wednesday, July 10th. Truist Financial increased their price objective on Boston Scientific from $86.00 to $90.00 and gave the company a buy rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. increased their price objective on Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a report on Thursday, April 25th. Mizuho increased their target price on Boston Scientific from $85.00 to $90.00 and gave the stock a buy rating in a research report on Wednesday, May 15th. Finally, Robert W. Baird increased their target price on Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Boston Scientific has an average rating of Moderate Buy and a consensus price target of $84.76.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $74.92 on Wednesday. The company has a market cap of $109.92 billion, a PE ratio of 62.96, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $79.43. The business has a 50 day moving average price of $76.49 and a 200-day moving average price of $70.40. 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 (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. Boston Scientific’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. Equities analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the sale, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the sale, the executive vice president now owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Insiders have sold 62,441 shares of company stock valued at $4,624,453 over the last ninety days. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors have recently bought and sold shares of BSX. Mutual Advisors LLC grew its position in shares of Boston Scientific by 20.7% during the fourth quarter. Mutual Advisors LLC now owns 5,999 shares of the medical equipment provider’s stock valued at $347,000 after purchasing an additional 1,029 shares in the last quarter. Raymond James & Associates grew its position in shares of Boston Scientific by 3.9% during the fourth quarter. Raymond James & Associates now owns 1,181,574 shares of the medical equipment provider’s stock valued at $68,307,000 after purchasing an additional 44,000 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at about $102,000. Raymond James Financial Services Advisors Inc. grew its position in shares of Boston Scientific by 3.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 507,550 shares of the medical equipment provider’s stock valued at $29,341,000 after purchasing an additional 14,723 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Boston Scientific by 79.6% during the fourth quarter. Pacer Advisors Inc. now owns 178,639 shares of the medical equipment provider’s stock valued at $10,327,000 after purchasing an additional 79,168 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.