Boston Scientific (NYSE:BSX) Earns “Hold” Rating from Needham & Company LLC

Boston Scientific (NYSE:BSX)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research report issued on Thursday,Benzinga reports.

BSX has been the topic of several other research reports. Citigroup upped their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. TD Cowen raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Mizuho upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus boosted their target price on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company raised their price target on Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Buy” and a consensus target price of $100.39.

Boston Scientific Stock Up 1.4 %

Shares of NYSE BSX opened at $104.95 on Thursday. The stock has a market cap of $154.68 billion, a PE ratio of 86.73, a PEG ratio of 2.68 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The business has a fifty day moving average of $94.01 and a two-hundred day moving average of $86.71. Boston Scientific has a 52-week low of $64.08 and a 52-week high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. As a group, equities research analysts expect that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,302 shares of company stock worth $4,464,725 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after purchasing an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department bought a new stake in Boston Scientific during the fourth quarter valued at approximately $415,000. Highland Capital Management LLC purchased a new position in Boston Scientific in the 4th quarter worth approximately $4,887,000. Brookstone Capital Management increased its stake in Boston Scientific by 23.7% in the fourth 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. Finally, Beacon Investment Advisory Services Inc. raised its holdings in shares of Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after buying an additional 4,702 shares in 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.