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

Shares of Boston Scientific Co. (NYSE:BSX) have earned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $93.39.

Several research firms have issued reports on BSX. Truist Financial raised their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Evercore ISI raised their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Stifel Nicolaus raised their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. TD Cowen raised their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, BTIG Research raised their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. The trade was a 16.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 328,157 shares of company stock valued at $27,894,270. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Hedge funds have recently made changes to their positions in the business. Dunhill Financial LLC raised its stake in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the period. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific during the second quarter valued at about $26,000. Values First Advisors Inc. bought a new stake in shares of Boston Scientific during the third quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Boston Scientific during the third quarter valued at about $30,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Boston Scientific during the third quarter valued at about $30,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Up 0.6 %

Shares of NYSE BSX opened at $90.75 on Friday. The company has a 50 day simple moving average of $86.57 and a 200 day simple moving average of $80.58. The firm has a market cap of $133.75 billion, a PE ratio of 75.00, a price-to-earnings-growth ratio of 2.63 and a beta of 0.79. Boston Scientific has a 1 year low of $53.93 and a 1 year high of $91.93. 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 issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business earned $0.50 EPS. On average, research analysts forecast that Boston Scientific will post 2.46 EPS for the current year.

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.