Boston Scientific Co. (NYSE:BSX) Given Consensus Rating of “Buy” by Brokerages

Shares of Boston Scientific Co. (NYSE:BSX) have been given a consensus recommendation of “Buy” by the twenty-three brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $107.39.

A number of research analysts have recently issued reports on BSX shares. Mizuho lifted 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. Stifel Nicolaus lifted their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Truist Financial increased their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Sanford C. Bernstein raised their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $106.03 on Friday. The firm has a 50 day moving average of $95.19 and a 200 day moving average of $87.50. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $156.26 billion, a price-to-earnings ratio of 84.82, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. Boston Scientific has a 52 week low of $64.54 and a 52 week high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. On average, sell-side analysts predict that Boston Scientific will post 2.83 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the transaction, the executive vice president now owns 29,308 shares in the company, valued at approximately $2,660,580.24. This represents a 19.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 39,398 shares of the company’s stock, 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. Over the last ninety days, insiders sold 53,830 shares of company stock worth $5,149,969. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. TFC Financial Management Inc. lifted its holdings in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of Boston Scientific during the 3rd quarter worth about $28,000. Dunhill Financial LLC lifted its stake in 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 buying an additional 152 shares in the last quarter. Global Wealth Strategies & Associates boosted its holdings in Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the last quarter. Finally, West Oak Capital LLC purchased a new stake in Boston Scientific during the 4th quarter worth approximately $29,000. 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.