Boston Scientific (NYSE:BSX) Earns “Hold” Rating from Needham & Company LLC

Boston Scientific (NYSE:BSX)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports.

A number of other equities analysts also recently commented on BSX. Morgan Stanley boosted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Stifel Nicolaus boosted their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. BTIG Research upped their price objective on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their target price on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Barclays increased their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Price Performance

Shares of BSX stock opened at $90.75 on Wednesday. The stock has a market capitalization of $133.75 billion, a price-to-earnings ratio of 75.00, a P/E/G ratio of 2.63 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific has a twelve month low of $53.93 and a twelve month high of $91.93. The stock has a fifty day simple moving average of $86.57 and a two-hundred day simple moving average of $80.58.

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

Insiders Place Their Bets

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction dated 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 owns 978 shares in the company, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 328,157 shares of company stock valued at $27,894,270. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

Hedge funds have recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after purchasing an additional 173,034 shares during the period. BDF Gestion purchased a new stake in shares of Boston Scientific during the 2nd quarter worth about $3,570,000. Cetera Advisor Networks LLC grew its position in shares of Boston Scientific by 11.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after acquiring an additional 21,252 shares during the period. Brookstone Capital Management increased its stake in shares of Boston Scientific by 389.1% in the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after purchasing an additional 55,645 shares in the last quarter. Finally, HWG Holdings LP acquired a new position in Boston Scientific in the 2nd quarter worth about $482,000. 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.