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 report report published on Friday morning.

BSX has been the topic of several other research reports. Barclays lifted their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Piper Sandler lifted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Stifel Nicolaus lifted their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Canaccord Genuity Group lifted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $108.91.

Boston Scientific Stock Up 3.2 %

Shares of NYSE BSX opened at $104.02 on Friday. The firm has a market capitalization of $153.51 billion, a PE ratio of 83.21, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific has a 1 year low of $65.52 and a 1 year high of $107.17. The firm’s 50-day moving average is $99.28 and its 200-day moving average is $90.22.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Equities analysts expect that Boston Scientific will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares in the company, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,305 shares of company stock worth $14,954,985. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors have recently added to or reduced their stakes in BSX. Focus Financial Network Inc. increased its holdings in shares of Boston Scientific by 2.6% in the third quarter. Focus Financial Network Inc. now owns 16,506 shares of the medical equipment provider’s stock valued at $1,383,000 after purchasing an additional 420 shares during the last quarter. Lebenthal Global Advisors LLC increased its holdings in shares of Boston Scientific by 8.7% in the third quarter. Lebenthal Global Advisors LLC now owns 20,483 shares of the medical equipment provider’s stock valued at $1,716,000 after purchasing an additional 1,645 shares during the last quarter. Shepherd Financial Partners LLC increased its holdings in shares of Boston Scientific by 1.3% in the third quarter. Shepherd Financial Partners LLC now owns 22,474 shares of the medical equipment provider’s stock valued at $1,883,000 after purchasing an additional 296 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Boston Scientific by 5.4% in the third quarter. Farther Finance Advisors LLC now owns 11,323 shares of the medical equipment provider’s stock valued at $949,000 after purchasing an additional 580 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Boston Scientific in the third quarter valued at $68,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.