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 issued on Saturday.

Several other analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a report on Friday, January 10th. Citigroup boosted their price target on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Argus set a $130.00 target price on Boston Scientific in a report on Tuesday, February 18th. Wells Fargo & Company boosted their price target on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, UBS Group boosted their price target on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific Stock Performance

Boston Scientific stock opened at $99.15 on Friday. The stock has a market cap of $146.33 billion, a PE ratio of 79.32, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $100.45 and its two-hundred day moving average price is $91.19. Boston Scientific has a 12-month low of $65.52 and a 12-month high of $107.17.

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

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. This represents a 10.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward J. Ludwig sold 12,000 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total value of $1,265,760.00. Following the completion of the transaction, the director now owns 24,398 shares of the company’s stock, valued at $2,573,501.04. This trade represents a 32.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 137,322 shares of company stock valued at $14,321,068. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Investment Management Corp VA ADV bought a new position in Boston Scientific in the 4th quarter valued at $25,000. Colonial Trust Co SC grew its stake in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 260 shares during the period. TFC Financial Management Inc. grew its stake in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 210 shares during the period. Sunbeam Capital Management LLC bought a new position in shares of Boston Scientific during the 4th quarter worth $26,000. Finally, Global Wealth Strategies & Associates grew its stake in shares of Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares during the period. Institutional investors 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.