Boston Scientific (NYSE:BSX) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

Boston Scientific (NYSE:BSX) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm currently has a $108.00 target price on the medical equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 12.64% from the company’s previous close.

A number of other brokerages have also issued reports on BSX. BTIG Research increased their price target on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Royal Bank of Canada increased their target price on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Mizuho boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Finally, Canaccord Genuity Group lifted their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.26.

Boston Scientific Stock Up 4.2 %

BSX stock opened at $95.88 on Friday. The business’s 50-day moving average price is $89.73 and its 200-day moving average price is $83.67. The stock has a market cap of $141.31 billion, a P/E ratio of 79.24, a PEG ratio of 2.67 and a beta of 0.80. 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 has a twelve month low of $58.09 and a twelve month high of $97.13.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. On average, equities research analysts forecast that Boston Scientific will post 2.46 EPS for the current year.

Insider Buying and Selling

In other news, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,989 shares of company stock worth $2,702,261 over the last three months. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

A number of large investors have recently made changes to their positions in the stock. Values First Advisors Inc. purchased a new position in Boston Scientific in the 3rd quarter worth about $28,000. Dunhill Financial LLC grew its stake in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares in the last quarter. Global Wealth Strategies & Associates increased its position in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares during the period. Andra AP fonden bought a new stake in shares of Boston Scientific during the second quarter valued at approximately $29,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Boston Scientific in the third quarter valued at approximately $30,000. 89.07% of the stock is owned by hedge funds and other 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.