Boston Scientific (NYSE:BSX) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Boston Scientific (NYSE:BSX) in a research note released on Monday,Benzinga reports.

A number of other research firms also recently commented on BSX. Stifel Nicolaus increased their price objective on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Bank of America increased their price target on shares of 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 lifted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays boosted their price target on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Price Performance

NYSE BSX opened at $90.45 on Monday. The firm has a market capitalization of $133.31 billion, a price-to-earnings ratio of 74.75, a price-to-earnings-growth ratio of 2.56 and a beta of 0.79. 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 company has a 50 day simple moving average of $85.42 and a 200-day simple moving average of $79.72. Boston Scientific has a 52-week low of $53.93 and a 52-week high of $91.08.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the company posted $0.50 EPS. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. Equities research analysts predict that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 309,270 shares of company stock worth $26,196,718. 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 BSX. Triad Wealth Partners LLC bought a new position in Boston Scientific during the 2nd quarter valued at about $26,000. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific in the third quarter valued at $28,000. Dunhill Financial LLC raised its holdings in shares of Boston Scientific by 86.4% in the third 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 during the last quarter. Andra AP fonden acquired a new position in Boston Scientific during the 2nd quarter worth about $29,000. Finally, Lynx Investment Advisory acquired a new position in shares of Boston Scientific during the second quarter worth approximately $30,000. 89.07% of the stock is owned by institutional investors.

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.