Boston Scientific (NYSE:BSX) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Boston Scientific (NYSE:BSX) from a hold rating to a buy rating in a report published on Friday morning.

Several other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a report on Thursday, April 25th. Royal Bank of Canada boosted their target price on Boston Scientific from $78.00 to $82.00 and gave the stock an outperform rating in a report on Thursday, April 25th. Citigroup raised their price target on Boston Scientific from $87.00 to $90.00 and gave the company a buy rating in a report on Wednesday, July 10th. Wells Fargo & Company boosted their price objective on Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Finally, Argus increased their target price on Boston Scientific from $80.00 to $95.00 and gave the stock a buy rating in a report on Tuesday, May 28th. Two 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. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $78.29.

Boston Scientific Trading Up 1.0 %

Shares of BSX opened at $77.69 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The stock has a market cap of $113.98 billion, a PE ratio of 65.29, a PEG ratio of 2.67 and a beta of 0.78. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $77.99. The stock has a 50 day simple moving average of $75.81 and a 200-day simple moving average of $69.14.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. On average, sell-side analysts predict that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the transaction, the executive vice president now owns 45,628 shares in the company, valued at $3,437,157.24. The disclosure for this sale can be found here. Insiders sold a total of 72,259 shares of company stock valued at $5,344,014 over the last ninety days. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Large investors have recently bought and sold shares of the business. First Foundation Advisors bought a new stake in shares of Boston Scientific during the first quarter worth $25,000. Eagle Bay Advisors LLC raised its stake in shares of Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares during the period. Lynx Investment Advisory bought a new stake in shares of Boston Scientific in the second quarter valued at about $30,000. RiverPark Advisors LLC bought a new position in shares of Boston Scientific during the first quarter worth about $30,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Boston Scientific in the 1st quarter valued at approximately $31,000. 89.07% of the stock is 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.