Boston Scientific (NYSE:BSX) Cut to Hold at StockNews.com

StockNews.com lowered shares of Boston Scientific (NYSE:BSX) from a buy rating to a hold rating in a report issued on Tuesday.

Several other brokerages have also recently issued reports on BSX. Deutsche Bank Aktiengesellschaft raised their target price on Boston Scientific from $63.00 to $73.00 and gave the stock a hold rating in a research report on Thursday, April 25th. Royal Bank of Canada lifted their price objective on Boston Scientific from $78.00 to $82.00 and gave the company an outperform rating in a research report on Thursday, April 25th. Citigroup lifted their price objective on Boston Scientific from $85.00 to $87.00 and gave the company a buy rating in a research report on Wednesday, May 22nd. Argus lifted their price objective on Boston Scientific from $80.00 to $95.00 and gave the company a buy rating in a research report on Tuesday, May 28th. Finally, The Goldman Sachs Group assumed coverage on Boston Scientific in a research report on Thursday, May 30th. They set a buy rating and a $90.00 price objective on the stock. Three investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $77.41.

Boston Scientific Trading Down 0.6 %

NYSE BSX opened at $76.11 on Tuesday. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $77.99. 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 stock’s fifty day moving average price is $75.23 and its 200-day moving average price is $68.02. The stock has a market cap of $111.66 billion, a P/E ratio of 63.96, a P/E/G ratio of 2.63 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. As a group, equities analysts forecast that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares in the company, valued at $3,437,157.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the transaction, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,259 shares of company stock worth $5,344,014. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently modified their holdings of the business. Pinnacle Associates Ltd. lifted its stake in shares of Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after buying an additional 148 shares in the last quarter. Transcend Capital Advisors LLC lifted its stake in shares of Boston Scientific by 2.2% in the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 148 shares in the last quarter. KCM Investment Advisors LLC lifted its stake in shares of Boston Scientific by 1.7% in the first quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock worth $632,000 after buying an additional 150 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in shares of Boston Scientific by 24.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 826 shares of the medical equipment provider’s stock worth $57,000 after buying an additional 160 shares in the last quarter. Finally, BSW Wealth Partners lifted its stake in shares of Boston Scientific by 2.3% in the fourth quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock worth $428,000 after buying an additional 165 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.