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

StockNews.com upgraded shares of Boston Scientific (NYSE:BSX) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Several other equities research analysts have also weighed in on BSX. The Goldman Sachs Group initiated coverage on shares of Boston Scientific in a report on Thursday, May 30th. They issued a buy rating and a $90.00 target price on the stock. Raymond James increased their target price on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a strong-buy rating in a report on Thursday, April 25th. Truist Financial increased their target price on shares of Boston Scientific from $86.00 to $90.00 and gave the stock a buy rating in a report on Tuesday, July 16th. UBS Group increased their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a buy rating in a report on Thursday, April 25th. Finally, TD Cowen increased their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific currently has an average rating of Moderate Buy and an average price target of $84.76.

Boston Scientific Trading Up 0.9 %

Shares of NYSE BSX opened at $74.95 on Wednesday. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $79.43. The company has a market cap of $109.96 billion, a PE ratio of 62.98, a P/E/G ratio of 2.64 and a beta of 0.78. 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 company has a 50-day moving average of $76.49 and a two-hundred day moving average of $70.32.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the business posted $0.53 earnings per share. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts expect that Boston Scientific will post 2.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the transaction, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The disclosure for this sale can be found here. Insiders sold a total of 62,441 shares of company stock valued at $4,624,453 in the last quarter. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System acquired a new stake in shares of Boston Scientific during the 4th quarter worth about $5,116,000. Sierra Summit Advisors LLC acquired a new stake in shares of Boston Scientific during the 4th quarter worth about $8,038,000. TD Asset Management Inc lifted its stake in shares of Boston Scientific by 10.7% during the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after buying an additional 155,565 shares during the last quarter. HealthInvest Partners AB acquired a new stake in shares of Boston Scientific during the 4th quarter worth about $3,746,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Boston Scientific by 225.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after buying an additional 73,219 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.