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

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

Several other analysts have also recently commented on the stock. Canaccord Genuity Group upped their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Friday. Wells Fargo & Company raised their target price on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Piper Sandler upped their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Raymond James lifted their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $108.91.

Boston Scientific Trading Up 0.8 %

Boston Scientific stock traded up $0.83 during mid-day trading on Monday, hitting $104.62. The stock had a trading volume of 1,459,880 shares, compared to its average volume of 6,412,612. The stock has a 50-day simple moving average of $99.28 and a two-hundred day simple moving average of $90.42. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $154.40 billion, a PE ratio of 83.73, a P/E/G ratio of 2.79 and a beta of 0.80. Boston Scientific has a 12 month low of $65.52 and a 12 month high of $107.17.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, sell-side analysts forecast that Boston Scientific will post 2.85 EPS for the current year.

Insider Buying and Selling 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 shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at $2,966,329.50. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,322 shares of company stock worth $14,321,068. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Park Square Financial Group LLC bought a new position in Boston Scientific during the fourth quarter worth $175,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Boston Scientific in the 4th quarter valued at about $133,855,000. Brooklyn FI LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $642,000. HWG Holdings LP increased its holdings in shares of Boston Scientific by 65.2% during the fourth quarter. HWG Holdings LP now owns 10,655 shares of the medical equipment provider’s stock worth $952,000 after purchasing an additional 4,207 shares during the period. Finally, Polar Asset Management Partners Inc. raised its position in shares of Boston Scientific by 69.0% in the fourth quarter. Polar Asset Management Partners Inc. now owns 481,717 shares of the medical equipment provider’s stock valued at $43,027,000 after buying an additional 196,617 shares in the last quarter. 89.07% of the stock is currently 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.