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

Boston Scientific (NYSE:BSX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

Several other research firms also recently commented on BSX. Argus increased their price objective on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Citigroup raised their target price on Boston Scientific from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. TD Cowen raised their target price on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Wells Fargo & Company raised their target price on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, UBS Group raised their target price on Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $76.70.

Boston Scientific Stock Up 1.1 %

NYSE BSX opened at $77.53 on Monday. The business has a fifty day moving average price of $74.27 and a 200 day moving average price of $67.23. Boston Scientific has a one year low of $48.35 and a one year high of $77.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The company has a market cap of $113.74 billion, a P/E ratio of 65.15, a P/E/G ratio of 2.67 and a beta of 0.81.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. Research analysts anticipate that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Activity

In other news, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at approximately $3,032,300.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,627 shares of company stock worth $5,937,353. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Institutional investors have recently added to or reduced their stakes in the business. First Foundation Advisors purchased a new stake in Boston Scientific during the first quarter worth approximately $25,000. Eagle Bay Advisors LLC lifted its stake in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. RiverPark Advisors LLC purchased a new stake in Boston Scientific during the first quarter worth approximately $30,000. Northwest Investment Counselors LLC acquired a new position in Boston Scientific during the first quarter worth approximately $31,000. Finally, YHB Investment Advisors Inc. acquired a new position in Boston Scientific during the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.