StockNews.com Lowers Boston Scientific (NYSE:BSX) to Hold

StockNews.com cut shares of Boston Scientific (NYSE:BSX) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Other equities research analysts have also issued research reports about the stock. Citigroup boosted their price target on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a buy rating in a report on Thursday, August 22nd. Robert W. Baird lifted their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. The Goldman Sachs Group started coverage on shares of Boston Scientific in a research note on Thursday, May 30th. They set a buy rating and a $90.00 target price on the stock. Evercore ISI lifted their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an outperform rating in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $85.38.

Boston Scientific Price Performance

NYSE:BSX opened at $83.31 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The firm has a market cap of $122.68 billion, a price-to-earnings ratio of 70.01, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79. The company has a 50 day moving average price of $78.08 and a 200-day moving average price of $74.16. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $84.11.

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 the consensus estimate 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 net margin of 12.00% and a return on equity of 16.59%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. Equities research analysts forecast that Boston Scientific will post 2.4 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 20,949 shares of company stock valued at $1,627,877 over the last 90 days. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BSX. Newbridge Financial Services Group Inc. increased its stake in Boston Scientific by 2,100.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 9,132 shares of the medical equipment provider’s stock worth $703,000 after purchasing an additional 8,717 shares during the period. Sanctuary Advisors LLC purchased a new stake in Boston Scientific during the second quarter worth about $5,349,000. Brown Financial Advisors purchased a new stake in Boston Scientific during the second quarter worth about $1,423,000. RiverFront Investment Group LLC purchased a new stake in Boston Scientific during the second quarter worth about $222,000. Finally, Cetera Investment Advisers increased its stake in Boston Scientific by 2.9% during the second quarter. Cetera Investment Advisers now owns 295,984 shares of the medical equipment provider’s stock worth $22,794,000 after purchasing an additional 8,399 shares during the period. Institutional investors and hedge funds 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.