Boston Scientific (NYSE:BSX) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Boston Scientific (NYSE:BSX) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

BSX has been the subject of a number of other research reports. TD Cowen boosted their price target on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. upped their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. BTIG Research upped their price objective on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada boosted their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Price Performance

BSX opened at $84.72 on Monday. The business has a fifty day moving average of $84.10 and a 200 day moving average of $78.55. The stock has a market cap of $124.76 billion, a P/E ratio of 70.02, a PEG ratio of 2.46 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. Boston Scientific has a 52-week low of $50.84 and a 52-week high of $88.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.41%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Boston Scientific will post 2.46 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the transaction, the executive vice president now owns 34,748 shares in the company, valued at approximately $2,913,967.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors have recently modified their holdings of BSX. Norden Group LLC purchased a new stake in shares of Boston Scientific in the first quarter valued at approximately $576,000. Private Advisor Group LLC raised its position in Boston Scientific by 19.4% during the first quarter. Private Advisor Group LLC now owns 31,916 shares of the medical equipment provider’s stock worth $2,186,000 after acquiring an additional 5,181 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Boston Scientific by 18.3% during the first quarter. Janney Montgomery Scott LLC now owns 207,410 shares of the medical equipment provider’s stock valued at $14,206,000 after purchasing an additional 32,121 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Boston Scientific by 5.1% in the first quarter. Nordea Investment Management AB now owns 106,096 shares of the medical equipment provider’s stock valued at $7,288,000 after purchasing an additional 5,184 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of Boston Scientific by 43.1% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,636 shares of the medical equipment provider’s stock worth $249,000 after purchasing an additional 1,096 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.