Boston Scientific (NYSE:BSX) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Boston Scientific (NYSE:BSX) in a research note issued to investors on Monday morning,Benzinga reports.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Robert W. Baird boosted their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays increased their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Morgan Stanley boosted their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Four equities research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $90.45 on Monday. The company has a market cap of $133.31 billion, a P/E ratio of 74.75, a PEG ratio of 2.56 and a beta of 0.79. The company has a 50-day moving average price of $85.42 and a 200 day moving average price of $79.72. Boston Scientific has a 52 week low of $53.93 and a 52 week high of $91.08. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share 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 17.23%. The business 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 company posted $0.50 EPS. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. Research analysts predict that Boston Scientific will post 2.46 earnings per share for the current year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 45.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 309,270 shares of company stock valued at $26,196,718. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Hedge funds and other institutional investors have recently made changes to their positions in the business. BDF Gestion acquired a new position in Boston Scientific in the second quarter worth approximately $3,570,000. LRI Investments LLC purchased a new stake in shares of Boston Scientific during the first quarter valued at $139,000. Cetera Advisor Networks LLC boosted its position in shares of Boston Scientific by 11.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after purchasing an additional 21,252 shares during the period. Brookstone Capital Management increased its stake in Boston Scientific by 389.1% in the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after purchasing an additional 55,645 shares in the last quarter. Finally, HWG Holdings LP acquired a new stake in Boston Scientific during the 2nd quarter worth about $482,000. 89.07% of the stock is currently owned by institutional investors.

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.