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

Shares of Boston Scientific Co. (NYSE:BSX) have earned a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $84.76.

A number of analysts recently issued reports on the company. Barclays increased their target price on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. boosted their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 target price for the company. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Truist Financial upped their price objective on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, the executive vice president now owns 20,197 shares in the company, valued at approximately $1,521,641.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now owns 40,188 shares in the company, valued at approximately $2,978,734.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,960 shares of company stock worth $2,638,984. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several hedge funds have recently bought and sold shares of BSX. HWG Holdings LP acquired a new stake in Boston Scientific during the 2nd quarter worth approximately $482,000. EP Wealth Advisors LLC increased its position in Boston Scientific by 4.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 13,066 shares of the medical equipment provider’s stock worth $1,006,000 after buying an additional 514 shares during the period. Ecofi Investissements SA bought a new stake in shares of Boston Scientific in the second quarter valued at about $11,058,000. Quarry LP bought a new stake in shares of Boston Scientific in the second quarter valued at about $33,000. Finally, Sunbelt Securities Inc. grew its stake in shares of Boston Scientific by 85.8% in the second quarter. Sunbelt Securities Inc. now owns 1,213 shares of the medical equipment provider’s stock valued at $93,000 after acquiring an additional 560 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Down 0.3 %

Shares of NYSE BSX opened at $78.48 on Friday. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $79.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The stock has a market cap of $115.14 billion, a P/E ratio of 65.95, a P/E/G ratio of 2.49 and a beta of 0.78. The firm has a 50 day moving average price of $76.46 and a 200 day moving average price of $72.20.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts expect that Boston Scientific will post 2.4 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.