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

Boston Scientific Co. (NYSE:BSX) has been given an average recommendation of “Buy” by the twenty-four brokerages that are currently covering the stock, Marketbeat Ratings reports. Twenty-two research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $114.74.

BSX has been the topic of several recent analyst reports. Stifel Nicolaus upped their price target on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Raymond James upped their price target on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Piper Sandler upped their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Finally, Morgan Stanley boosted their target price on Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday.

Insider Buying and Selling

In other news, CFO Daniel J. Brennan sold 67,333 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the transaction, the chief financial officer now owns 225,808 shares of the company’s stock, valued at approximately $23,764,033.92. This represents a 22.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 4,572 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the transaction, the executive vice president now directly owns 18,705 shares in the company, valued at $1,955,420.70. The trade was a 19.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 265,820 shares of company stock worth $27,406,958. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors have recently made changes to their positions in BSX. TFC Financial Management Inc. boosted its stake in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares during the period. Colonial Trust Co SC boosted its stake in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 260 shares during the period. Investment Management Corp VA ADV bought a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $26,000. Finally, 1248 Management LLC acquired a new position in Boston Scientific during the first quarter valued at approximately $26,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Up 1.1%

Shares of Boston Scientific stock opened at $106.00 on Friday. The stock’s fifty day moving average is $99.18 and its 200-day moving average is $96.66. The firm has a market capitalization of $156.83 billion, a PE ratio of 84.80, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific has a 12-month low of $71.88 and a 12-month high of $107.17.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Boston Scientific’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 earnings per share. Equities analysts anticipate that Boston Scientific will post 2.85 earnings per share 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.