Boston Scientific (NYSE:BSX) Rating Increased to Buy 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 Wednesday.

Several other analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Friday, January 10th. Mizuho increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Bank of America boosted their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Truist Financial raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group increased their target price on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.26.

Boston Scientific Stock Up 0.5 %

Shares of NYSE:BSX opened at $102.79 on Wednesday. Boston Scientific has a 1 year low of $61.08 and a 1 year high of $103.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The business’s 50-day moving average is $92.74 and its 200-day moving average is $85.81. The company has a market capitalization of $151.50 billion, a price-to-earnings ratio of 84.95, a P/E/G ratio of 2.63 and a beta of 0.80.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,989 shares of company stock worth $2,702,261. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BSX. State Street Corp grew its position in shares of 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 in the last quarter. Wellington Management Group LLP grew its holdings in Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after buying an additional 718,515 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Boston Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after buying an additional 480,729 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Boston Scientific by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after buying an additional 64,720 shares in the last quarter. Finally, Impax Asset Management Group plc grew its stake in Boston Scientific by 17.5% during the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after acquiring an additional 815,403 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.