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

Boston Scientific (NYSE:BSX)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a report released on Monday,Benzinga reports.

Other analysts have also recently issued research reports about the company. Citigroup lifted their price objective on Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price target on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada lifted their price target on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, BTIG Research lifted their price objective on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $90.30 on Monday. Boston Scientific has a 1-year low of $53.93 and a 1-year high of $91.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a fifty day moving average price of $85.56 and a 200 day moving average price of $79.84. The company has a market cap of $133.09 billion, a PE ratio of 74.63, a P/E/G ratio of 2.56 and a beta of 0.79.

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

Insider Buying and Selling

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 34,748 shares in the company, valued at approximately $2,913,967.28. This represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock valued at $26,196,718 in the last 90 days. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

A number of institutional investors have recently made changes to their positions in the business. M&T Bank Corp lifted its position in shares of Boston Scientific by 0.3% in the third quarter. M&T Bank Corp now owns 106,127 shares of the medical equipment provider’s stock worth $8,894,000 after purchasing an additional 370 shares in the last quarter. Soltis Investment Advisors LLC acquired a new position in Boston Scientific during the third quarter worth $240,000. Sunbelt Securities Inc. increased its holdings in Boston Scientific by 16.6% during the third quarter. Sunbelt Securities Inc. now owns 1,414 shares of the medical equipment provider’s stock worth $118,000 after buying an additional 201 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in Boston Scientific by 9.4% during the third quarter. Coldstream Capital Management Inc. now owns 27,326 shares of the medical equipment provider’s stock worth $2,301,000 after buying an additional 2,346 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Boston Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after buying an additional 480,729 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

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.