Boston Scientific Co. (NYSE:BSX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Boston Scientific Co. (NYSE:BSX) have received a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $85.38.

A number of research analysts recently commented on BSX shares. JPMorgan Chase & Co. upped their target price on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird raised their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen upped their target price on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Raymond James raised their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Evercore ISI increased their target price on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd.

Boston Scientific Stock Down 0.6 %

Boston Scientific stock opened at $83.31 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $84.11. The firm has a fifty day moving average price of $78.08 and a two-hundred day moving average price of $74.11. The firm has a market cap of $122.68 billion, a price-to-earnings ratio of 70.01, a P/E/G ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $4.12 billion during 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%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, analysts forecast that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 20,949 shares of company stock worth $1,627,877 in the last quarter. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Boston Scientific during the 4th quarter valued at about $930,626,000. Putnam Investments LLC lifted its holdings in Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after buying an additional 6,859,280 shares during the period. Capital World Investors boosted its stake in Boston Scientific by 236.1% in the fourth quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after acquiring an additional 6,617,360 shares during the last quarter. Marshall Wace LLP raised its position in shares of Boston Scientific by 115.9% during the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after acquiring an additional 3,608,158 shares during the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of Boston Scientific during the 1st quarter valued at $182,897,000. Institutional investors 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.