Boston Scientific (NYSE:BSX) Rating Increased to Buy at Needham & Company LLC

Boston Scientific (NYSE:BSX) was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $113.00 price objective on the medical equipment provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 18.85% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus raised their price objective on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Barclays upped their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Piper Sandler increased their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Argus set a $130.00 target price on Boston Scientific in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and an average price target of $110.22.

Boston Scientific Stock Down 0.2 %

Shares of NYSE BSX opened at $95.08 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific has a 1 year low of $66.80 and a 1 year high of $107.17. The stock has a market capitalization of $140.63 billion, a P/E ratio of 76.06, a P/E/G ratio of 2.79 and a beta of 0.73. The company has a 50-day moving average price of $99.68 and a 200-day moving average price of $94.26.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) 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%. On average, equities research analysts forecast that Boston Scientific will post 2.85 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 6,528 shares of Boston Scientific stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the completion of the transaction, the executive vice president now owns 26,449 shares of the company’s stock, valued at $2,776,351.53. The trade was a 19.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the sale, the executive vice president now owns 5,502 shares in the company, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,183 shares of company stock worth $13,948,476. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

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