Boston Scientific (NYSE:BSX) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific (NYSE:BSX) from a hold rating to a buy rating in a research note issued to investors on Friday morning, MarketBeat reports. The firm currently has $108.00 target price on the medical equipment provider’s stock.

Other equities research analysts also recently issued reports about the stock. Citigroup lifted their target price on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. BTIG Research raised their target price on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Truist Financial lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. upped their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Evercore ISI upped their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.26.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $95.14 on Friday. The company has a 50 day moving average of $89.96 and a 200-day moving average of $83.89. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific has a 1-year low of $59.39 and a 1-year high of $97.13. The company has a market cap of $140.22 billion, a PE ratio of 78.63, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities research analysts forecast that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, 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 directly owns 978 shares of the company’s stock, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,989 shares of company stock worth $2,702,261 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently made changes to their positions in BSX. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific in the 3rd quarter valued at $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 valued at $28,000 after buying an additional 152 shares during the period. Global Wealth Strategies & Associates grew its holdings in shares of Boston Scientific by 423.7% during the 4th 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 position in Boston Scientific in the second quarter worth $29,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Boston Scientific during the 3rd quarter valued at about $30,000. Hedge funds and other 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.