Boston Scientific (NYSE:BSX) Upgraded to Buy at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific (NYSE:BSX) from a hold rating to a buy rating in a research report sent to investors on Friday, Marketbeat reports. They currently have $108.00 price target on the medical equipment provider’s stock.

Several other brokerages also recently weighed in on BSX. Mizuho boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup boosted their price objective on shares of Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Morgan Stanley raised their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Bank of America boosted their price target on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus raised their price objective on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $97.26.

Boston Scientific Stock Down 0.8 %

BSX stock opened at $95.14 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific has a 12 month low of $59.39 and a 12 month high of $97.13. The firm has a market capitalization of $140.22 billion, a PE ratio of 78.63, a P/E/G ratio of 2.67 and a beta of 0.80. The company’s 50 day simple moving average is $89.96 and its 200-day simple moving average is $83.80.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. Equities analysts expect that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,989 shares of company stock worth $2,702,261 over the last ninety days. 0.50% of the stock is owned by company insiders.

Institutional Trading of Boston Scientific

Several large investors have recently bought and sold shares of BSX. Marshall Wace LLP lifted its holdings in Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after buying an additional 3,608,158 shares in the last quarter. AustralianSuper Pty Ltd increased its position in shares of Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after acquiring an additional 2,615,903 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after acquiring an additional 1,824,405 shares in the last quarter. State Street Corp boosted its holdings in Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Boston Scientific by 98.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after purchasing an additional 1,091,561 shares in the last quarter. Institutional investors and hedge funds 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.