Boston Scientific (NYSE:BSX) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

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

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus upped their price objective on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Citigroup upped their price target on Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Bank of America raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company upped their target price on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, BTIG Research lifted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific currently 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 business has a 50-day simple moving average of $89.96 and a 200-day simple moving average of $83.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific has a one year low of $59.39 and a one year high of $97.13. The company has a market cap of $140.22 billion, a PE ratio of 78.63, a P/E/G ratio of 2.67 and a beta of 0.80.

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

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, 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 link. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock worth $2,702,261 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors have recently made changes to their positions in BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares in the last quarter. HWG Holdings LP acquired a new stake in shares of Boston Scientific during the 2nd quarter valued at approximately $482,000. Principal Financial Group Inc. boosted its stake in shares of Boston Scientific by 5.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock worth $168,475,000 after acquiring an additional 111,724 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock valued at $289,675,000 after purchasing an additional 30,636 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in Boston Scientific by 153.5% in the 3rd quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock valued at $16,541,000 after purchasing an additional 119,525 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.