Boston Scientific (NYSE:BSX) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Boston Scientific (NYSE:BSX) from a buy rating to a hold rating in a report issued on Tuesday morning.

BSX has been the subject of several other research reports. Robert W. Baird lifted their price target on shares of Boston Scientific from $79.00 to $84.00 and gave the company an outperform rating in a research note on Thursday, April 25th. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a report on Thursday, April 25th. Royal Bank of Canada lifted their price objective on shares of Boston Scientific from $78.00 to $82.00 and gave the company an outperform rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Boston Scientific from $63.00 to $73.00 and gave the company a hold rating in a report on Thursday, April 25th. Finally, UBS Group lifted their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the company a buy rating in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $77.41.

Boston Scientific Stock Performance

Boston Scientific stock opened at $76.55 on Tuesday. The company has a 50 day moving average price of $75.01 and a 200-day moving average price of $67.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $77.99. The company has a market capitalization of $112.30 billion, a PE ratio of 64.33, a P/E/G ratio of 2.65 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. As a group, equities analysts forecast that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the transaction, the executive vice president now directly owns 42,908 shares in the company, valued at $3,316,788.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the transaction, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The disclosure for this sale can be found here. Insiders sold 72,259 shares of company stock worth $5,344,014 over the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Eagle Bay Advisors LLC raised its position in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares during the period. First Foundation Advisors acquired a new position in shares of Boston Scientific during the 1st quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth about $28,000. RiverPark Advisors LLC acquired a new position in shares of Boston Scientific during the 1st quarter worth about $30,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Boston Scientific during the 1st quarter worth about $31,000. Institutional investors and hedge funds 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.