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

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

Several other brokerages have also issued reports on BSX. Royal Bank of Canada lifted their price target on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Bank of America upped their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. 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 report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Finally, Wells Fargo & Company boosted their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.26.

Boston Scientific Price Performance

BSX stock opened at $102.79 on Wednesday. The firm has a 50 day simple moving average of $92.74 and a two-hundred day simple moving average of $85.81. 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 stock has a market cap of $151.50 billion, a PE ratio of 84.95, a P/E/G ratio of 2.63 and a beta of 0.80. Boston Scientific has a one year low of $61.08 and a one year high of $103.17.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock valued at $2,702,261 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Boston Scientific

Institutional investors and hedge funds have recently modified their holdings of the business. Catalyst Financial Partners LLC boosted its position in shares of Boston Scientific by 2.2% during the fourth quarter. Catalyst Financial Partners LLC now owns 7,127 shares of the medical equipment provider’s stock valued at $637,000 after buying an additional 154 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Boston Scientific by 8.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 696,124 shares of the medical equipment provider’s stock worth $63,090,000 after acquiring an additional 53,471 shares during the period. G&S Capital LLC raised its holdings in shares of Boston Scientific by 99.3% during the fourth quarter. G&S Capital LLC now owns 27,242 shares of the medical equipment provider’s stock valued at $2,433,000 after purchasing an additional 13,572 shares during the last quarter. Avestar Capital LLC lifted its position in Boston Scientific by 40.2% during the fourth quarter. Avestar Capital LLC now owns 17,381 shares of the medical equipment provider’s stock valued at $1,552,000 after purchasing an additional 4,984 shares during the period. Finally, MGB Wealth Management LLC boosted its holdings in Boston Scientific by 3.8% in the fourth quarter. MGB Wealth Management LLC now owns 7,073 shares of the medical equipment provider’s stock worth $633,000 after purchasing an additional 262 shares during the last quarter. 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.