Boston Scientific (NYSE:BSX) Reaches New 1-Year High on Better-Than-Expected Earnings

Shares of Boston Scientific Co. (NYSE:BSX) reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $106.51 and last traded at $105.34, with a volume of 581320 shares. The stock had previously closed at $103.54.

The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%.

Analyst Upgrades and Downgrades

BSX has been the subject of several recent research reports. TD Cowen raised their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Friday, January 10th. Raymond James raised their price target on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Royal Bank of Canada raised their price target on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Stifel Nicolaus raised their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $104.26.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the transaction, the executive vice president now owns 29,308 shares in the company, valued at $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was 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 in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,302 shares of company stock worth $4,464,725. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. TFC Financial Management Inc. lifted its stake in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific during the third quarter worth about $28,000. Dunhill Financial LLC increased its position in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares during 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 last quarter. Finally, West Oak Capital LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

The firm has a market capitalization of $154.76 billion, a PE ratio of 86.78, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. 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 50-day moving average price of $94.30 and a 200-day moving average price of $86.84.

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.