Boston Scientific (NYSE:BSX) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Boston Scientific (NYSE:BSX) from a hold rating to a buy rating in a research note published on Thursday.

Several other research analysts have also commented on BSX. Citigroup raised their price objective on Boston Scientific from $90.00 to $92.00 and gave the company a buy rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on Boston Scientific from $73.00 to $78.00 and gave the stock a hold rating in a research report on Thursday, July 25th. Needham & Company LLC lifted their price objective on shares of Boston Scientific from $82.00 to $86.00 and gave the company a buy rating in a research note on Thursday, July 25th. BTIG Research raised their price target on shares of Boston Scientific from $80.00 to $84.00 and gave the company a buy rating in a report on Monday, July 15th. Finally, The Goldman Sachs Group assumed coverage on shares of Boston Scientific in a research report on Thursday, May 30th. They issued a buy rating and a $90.00 price objective for the company. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boston Scientific currently has an average rating of Moderate Buy and a consensus price target of $85.38.

Boston Scientific Stock Up 0.3 %

BSX stock opened at $81.60 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The company’s 50 day simple moving average is $77.40 and its 200-day simple moving average is $73.53. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $82.47. The firm has a market capitalization of $119.72 billion, a PE ratio of 68.57, a P/E/G ratio of 2.71 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts expect that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 20,949 shares of company stock worth $1,627,877 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds have recently made changes to their positions in BSX. CVA Family Office LLC boosted its holdings in Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after buying an additional 131 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Boston Scientific by 0.6% in the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock worth $1,740,000 after acquiring an additional 139 shares in the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of Boston Scientific by 8.0% during the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after acquiring an additional 143 shares during the period. Pinnacle Associates Ltd. lifted its position in shares of Boston Scientific by 2.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after acquiring an additional 148 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its stake in Boston Scientific by 2.2% in the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 148 shares during the period. 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.