Boston Scientific (NYSE:BSX) Shares Gap Up – Should You Buy?

Shares of Boston Scientific Co. (NYSE:BSX) gapped up before the market opened on Wednesday . The stock had previously closed at $91.99, but opened at $96.68. Boston Scientific shares last traded at $96.52, with a volume of 2,529,217 shares changing hands.

Analyst Ratings Changes

BSX has been the topic of several analyst reports. Morgan Stanley lifted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Stifel Nicolaus lifted their target price on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, TD Cowen increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.96.

Boston Scientific Stock Up 4.5 %

The firm has a market capitalization of $141.71 billion, a P/E ratio of 79.46, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The business has a 50 day moving average price of $89.25 and a 200 day moving average price of $83.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (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 business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Boston Scientific’s revenue was up 19.3% compared to the same quarter last year. On average, analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s 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 approximately $2,660,580.24. This represents a 19.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,989 shares of company stock worth $2,702,261. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors and hedge funds have recently made changes to their positions in BSX. Private Advisor Group LLC raised its stake in shares of Boston Scientific by 9.8% in the second quarter. Private Advisor Group LLC now owns 35,059 shares of the medical equipment provider’s stock valued at $2,700,000 after acquiring an additional 3,143 shares during the last quarter. Savant Capital LLC boosted its stake in Boston Scientific by 2.0% in the second quarter. Savant Capital LLC now owns 14,174 shares of the medical equipment provider’s stock worth $1,092,000 after purchasing an additional 273 shares in the last quarter. First Foundation Advisors grew its holdings in shares of Boston Scientific by 51.2% during the second quarter. First Foundation Advisors now owns 549 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 186 shares during the last quarter. Prudential PLC increased its stake in shares of Boston Scientific by 6.8% in the second quarter. Prudential PLC now owns 34,685 shares of the medical equipment provider’s stock valued at $2,671,000 after buying an additional 2,209 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new position in shares of Boston Scientific in the second quarter valued at about $251,000. 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.