Needham & Company LLC Reiterates Hold Rating for Boston Scientific (NYSE:BSX)

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

A number of other equities research analysts have also issued reports on the company. TD Cowen increased their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Argus set a $130.00 price objective on Boston Scientific in a research report on Tuesday, February 18th. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Canaccord Genuity Group boosted their target price on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $108.91.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $104.82 on Monday. The stock’s fifty day moving average is $99.57 and its 200 day moving average is $90.61. Boston Scientific has a one year low of $65.52 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The stock has a market cap of $154.69 billion, a P/E ratio of 83.86, a P/E/G ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Sell-side analysts anticipate that Boston Scientific will post 2.85 earnings per share for the current year.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the sale, the executive vice president now owns 28,454 shares in the company, valued at $2,966,329.50. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 137,322 shares of company stock valued at $14,321,068. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of institutional investors have recently bought and sold shares of BSX. Investment Management Corp VA ADV purchased a new position in shares of Boston Scientific in the fourth quarter worth $25,000. Colonial Trust Co SC increased its holdings in Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 260 shares during the period. TFC Financial Management Inc. lifted its holdings in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares during the period. Sunbeam Capital Management LLC purchased a new stake in Boston Scientific during the fourth quarter worth $26,000. Finally, Global Wealth Strategies & Associates increased its stake in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.