Boston Scientific (NYSE:BSX) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Boston Scientific (NYSE:BSX) in a research note published on Monday morning,Benzinga reports.

Several other brokerages have also issued reports on BSX. Royal Bank of Canada increased their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. UBS Group increased their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Raymond James increased their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Morgan Stanley increased their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Piper Sandler upped their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $108.91.

Boston Scientific Trading Up 1.2 %

NYSE:BSX opened at $104.82 on Monday. The firm’s fifty day moving average is $100.10 and its 200-day moving average is $90.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific has a 52 week low of $65.52 and a 52 week high of $107.17. The firm has a market cap of $154.68 billion, a P/E ratio of 83.85, a P/E/G ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Equities analysts expect that Boston Scientific will post 2.85 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, CFO Daniel J. Brennan sold 15,087 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the transaction, the chief financial officer now owns 241,451 shares in the company, valued at approximately $25,369,256.57. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,322 shares of company stock worth $14,321,068. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Siemens Fonds Invest GmbH lifted its stake in shares of Boston Scientific by 2.4% during the 4th quarter. Siemens Fonds Invest GmbH now owns 48,958 shares of the medical equipment provider’s stock valued at $4,391,000 after buying an additional 1,153 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Boston Scientific during the 4th quarter valued at $175,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Boston Scientific during the fourth quarter worth $133,855,000. Brooklyn FI LLC bought a new position in shares of Boston Scientific in the fourth quarter worth $642,000. Finally, HWG Holdings LP grew its position in shares of Boston Scientific by 65.2% in the fourth quarter. HWG Holdings LP now owns 10,655 shares of the medical equipment provider’s stock valued at $952,000 after purchasing an additional 4,207 shares in 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.