Boston Scientific (NYSE:BSX) Upgraded at StockNews.com

StockNews.com upgraded shares of Boston Scientific (NYSE:BSX) from a hold rating to a buy rating in a report released on Wednesday morning.

A number of other equities analysts have also recently commented on BSX. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a report on Thursday, April 25th. Morgan Stanley boosted their price objective on shares of Boston Scientific from $79.00 to $92.00 and gave the company an overweight rating in a research note on Monday, July 15th. Mizuho boosted their price objective on shares of Boston Scientific from $85.00 to $90.00 and gave the company a buy rating in a research note on Wednesday, May 15th. UBS Group boosted their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the company a buy rating in a research note on Thursday, April 25th. Finally, Evercore ISI boosted their price objective on shares of Boston Scientific from $78.00 to $81.00 and gave the company an outperform rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $84.76.

Boston Scientific Stock Up 0.9 %

Shares of NYSE:BSX opened at $74.92 on Wednesday. The company has a market capitalization of $109.92 billion, a PE ratio of 62.96, a P/E/G ratio of 2.47 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $79.43. The firm has a 50 day simple moving average of $76.49 and a 200-day simple moving average of $70.40.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data 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. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, equities analysts predict that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the transaction, the executive vice president now directly owns 42,908 shares in the company, valued at approximately $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the transaction, the executive vice president now directly owns 42,908 shares in the company, valued at approximately $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 14,011 shares of the company’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 transaction, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,441 shares of company stock worth $4,624,453. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the last quarter. Primecap Management Co. CA grew its position in Boston Scientific by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock valued at $2,191,326,000 after acquiring an additional 550,490 shares in the last quarter. Norges Bank acquired a new stake in Boston Scientific in the fourth quarter valued at approximately $930,626,000. Capital World Investors grew its position in Boston Scientific by 69.9% in the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after acquiring an additional 6,588,256 shares in the last quarter. Finally, Putnam Investments LLC grew its position in Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after acquiring an additional 6,859,280 shares in the last quarter. 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.