Boston Scientific Co. (NYSE:BSX) Receives $76.70 Average PT from Analysts

Shares of Boston Scientific Co. (NYSE:BSX) have received a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $77.27.

BSX has been the subject of a number of recent research reports. Mizuho lifted their target price on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. TD Cowen lifted their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Needham & Company LLC restated a “buy” rating and issued a $82.00 target price on shares of Boston Scientific in a report on Tuesday, June 18th. Royal Bank of Canada upped their price target on shares of Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th.

Boston Scientific Price Performance

Boston Scientific stock opened at $76.41 on Thursday. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $77.99. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average is $74.84 and its 200 day moving average is $67.67. The company has a market cap of $112.10 billion, a price-to-earnings ratio of 64.21, a PEG ratio of 2.65 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. Sell-side analysts forecast that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In related news, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the sale, the director now directly 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 available at the SEC website. In other Boston Scientific news, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,276 shares of company stock valued at $4,804,228. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds have recently modified their holdings of the stock. Eagle Bay Advisors LLC increased its stake in Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. First Foundation Advisors acquired a new position in shares of Boston Scientific in the 1st quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new position in Boston Scientific in the 4th quarter worth $28,000. RiverPark Advisors LLC acquired a new stake in Boston Scientific during the 1st quarter worth about $30,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Boston Scientific during the 1st quarter valued at about $31,000. 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.