Boston Scientific (NYSE:BSX) Now Covered by Analysts at Leerink Partners

Leerink Partners initiated coverage on shares of Boston Scientific (NYSE:BSX) in a report published on Monday, Marketbeat.com reports. The brokerage issued an outperform rating and a $118.00 target price on the medical equipment provider’s stock.

Other equities analysts have also issued reports about the stock. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Morgan Stanley boosted their target price on Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Citigroup restated a “buy” rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Robert W. Baird lifted their price objective on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Twenty-two analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Buy” and an average target price of $116.09.

Boston Scientific Price Performance

NYSE:BSX opened at $101.49 on Monday. The stock has a 50 day moving average of $101.25 and a two-hundred day moving average of $98.87. Boston Scientific has a 12 month low of $71.88 and a 12 month high of $107.17. The firm has a market cap of $150.15 billion, a P/E ratio of 81.19, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last issued its quarterly 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. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the previous year, the company posted $0.56 earnings per share. The business’s revenue was up 20.9% on a year-over-year basis. On average, analysts expect that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the completion of the transaction, the executive vice president now directly owns 178,342 shares in the company, valued at $18,347,824.96. This trade represents a 24.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares in the company, valued at $157,379,150.88. This represents a 9.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 411,970 shares of company stock worth $42,406,693. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Institutional investors have recently modified their holdings of the business. Colonial Trust Co SC increased its holdings in 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 purchasing an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new stake in shares of Boston Scientific during the fourth quarter worth approximately $25,000. Sunbeam Capital Management LLC acquired a new stake in Boston Scientific in the fourth quarter valued at approximately $26,000. 1248 Management LLC acquired a new stake in Boston Scientific in the first quarter valued at approximately $26,000. Finally, Y.D. More Investments Ltd purchased a new position in Boston Scientific in the first quarter worth approximately $27,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.