Boston Scientific (NYSE:BSX) Upgraded by StockNews.com to “Buy”

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

BSX has been the topic of several other research reports. BTIG Research increased their price target on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a buy rating in a research report on Monday, July 15th. Morgan Stanley raised their target price on Boston Scientific from $79.00 to $92.00 and gave the company an overweight rating in a report on Monday, July 15th. Mizuho boosted their price target on Boston Scientific from $85.00 to $90.00 and gave the stock a buy rating in a report on Wednesday, May 15th. Raymond James raised their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a strong-buy rating in a research note on Wednesday. Finally, Citigroup boosted their target price on Boston Scientific from $90.00 to $92.00 and gave the stock a buy rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of Moderate Buy and a consensus target price of $85.38.

Boston Scientific Trading Down 0.7 %

Shares of NYSE:BSX opened at $81.39 on Thursday. The business’s 50 day simple moving average is $77.30 and its 200 day simple moving average is $73.37. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $82.47. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The company has a market capitalization of $119.41 billion, a P/E ratio of 68.39, a P/E/G ratio of 2.71 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. Boston Scientific’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. On average, research analysts anticipate that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now owns 40,188 shares in the company, valued at approximately $2,978,734.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 20,949 shares of company stock valued at $1,627,877 over the last ninety days. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Eagle Bay Advisors LLC grew its holdings in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares in the last quarter. First Foundation Advisors bought a new stake in shares of Boston Scientific in the 1st quarter worth $25,000. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific in the second quarter valued at about $26,000. Andra AP fonden purchased a new stake in shares of Boston Scientific in the second quarter valued at about $29,000. Finally, RiverPark Advisors LLC bought a new position in shares of Boston Scientific during the first quarter valued at about $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.