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

Boston Scientific Co. (NYSE:BSX) has been given a consensus rating of “Moderate Buy” by the twenty-three analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $97.26.

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th. Royal Bank of Canada upped their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. BTIG Research raised their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Truist Financial boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th.

Boston Scientific Stock Performance

Shares of BSX stock opened at $98.73 on Monday. The stock has a market cap of $145.52 billion, a P/E ratio of 81.60, a P/E/G ratio of 2.48 and a beta of 0.80. The company has a fifty day moving average price of $90.79 and a two-hundred day moving average price of $84.33. Boston Scientific has a one year low of $59.85 and a one year high of $99.14. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

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, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company posted $0.50 earnings per share. As a group, equities analysts predict that Boston Scientific will post 2.46 EPS for the current year.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,989 shares of company stock valued at $2,702,261 over the last three months. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds have recently made changes to their positions in BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after purchasing an additional 173,034 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after acquiring an additional 20,307 shares during the last quarter. HWG Holdings LP acquired a new stake in shares of Boston Scientific during the 2nd quarter valued at $482,000. Principal Financial Group Inc. increased its holdings in Boston Scientific by 5.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock worth $168,475,000 after purchasing an additional 111,724 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after purchasing an additional 30,636 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.