Boston Scientific (NYSE:BSX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Boston Scientific (NYSE:BSX) from a hold rating to a buy rating in a report issued on Friday.

BSX has been the subject of several other reports. Royal Bank of Canada upped their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Piper Sandler increased their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley increased their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Citigroup increased their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $108.91.

Boston Scientific Price Performance

NYSE BSX opened at $104.02 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $99.28 and a 200 day simple moving average of $90.22. The company has a market cap of $153.51 billion, a P/E ratio of 83.21, a P/E/G ratio of 2.79 and a beta of 0.80. Boston Scientific has a 1 year low of $65.52 and a 1 year high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) 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%. On average, sell-side analysts predict that Boston Scientific will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the sale, the executive vice president now owns 29,308 shares in the company, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,305 shares of company stock worth $14,954,985 in the last quarter. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. TFC Financial Management Inc. increased its position in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares in the last quarter. Colonial Trust Co SC increased its position in Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 260 shares in the last quarter. Investment Management Corp VA ADV bought a new position in shares of Boston Scientific in the 4th quarter valued at about $25,000. Sunbeam Capital Management LLC bought a new position in shares of Boston Scientific in the 4th quarter valued at about $26,000. Finally, Dunhill Financial LLC boosted its stake in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds 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.