Boston Scientific (NYSE:BSX) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Boston Scientific (NYSE:BSX) from a buy rating to a hold rating in a report released on Monday.

A number of other analysts also recently weighed in on the stock. Morgan Stanley increased their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Thursday, October 31st. TD Cowen upped their price target on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Sanford C. Bernstein upped their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Stock Performance

Shares of BSX opened at $86.90 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.14. Boston Scientific has a one year low of $50.84 and a one year high of $88.79. The company’s fifty day moving average price is $84.35 and its 200 day moving average price is $78.74. The company has a market capitalization of $128.08 billion, a PE ratio of 71.82, a price-to-earnings-growth ratio of 2.50 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, analysts expect that Boston Scientific will post 2.46 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock worth $26,196,718 in the last quarter. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Institutional investors have recently bought and sold shares of the business. Guardian Wealth Advisors LLC bought a new position in shares of Boston Scientific in the 3rd quarter worth $204,000. Caprock Group LLC boosted its holdings in Boston Scientific by 8.6% during the third quarter. Caprock Group LLC now owns 46,512 shares of the medical equipment provider’s stock worth $3,898,000 after buying an additional 3,686 shares during the last quarter. Napa Wealth Management acquired a new position in shares of Boston Scientific during the 3rd quarter worth about $2,295,000. Strengthening Families & Communities LLC increased its stake in shares of Boston Scientific by 9.6% in the 3rd quarter. Strengthening Families & Communities LLC now owns 21,538 shares of the medical equipment provider’s stock valued at $1,805,000 after acquiring an additional 1,887 shares during the last quarter. Finally, GLOBALT Investments LLC GA bought a new position in Boston Scientific during the 3rd quarter worth approximately $718,000. Institutional investors and hedge funds 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.