Brokerages Set Boston Scientific Co. (NYSE:BSX) PT at $68.14

Shares of Boston Scientific Co. (NYSE:BSX) have been assigned a consensus rating of “Buy” from the twenty ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $68.50.

Several analysts recently issued reports on the stock. Needham & Company LLC upped their price target on shares of Boston Scientific from $60.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 1st. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. BTIG Research reiterated a “buy” rating and issued a $64.00 price target on shares of Boston Scientific in a research note on Friday, December 29th. Royal Bank of Canada upped their price objective on Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Argus lifted their target price on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd.

Boston Scientific Stock Down 0.2 %

Shares of Boston Scientific stock opened at $67.96 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $69.21. The business has a 50-day moving average of $67.17 and a 200-day moving average of $59.68. The company has a market capitalization of $99.70 billion, a PE ratio of 63.51, a P/E/G ratio of 2.36 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the business earned $0.45 EPS. As a group, equities analysts forecast that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares in the company, valued at $17,883,756.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the sale, the chief financial officer now directly owns 271,542 shares in the company, valued at $17,883,756.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Boston Scientific by 6.8% during the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after buying an additional 8,045,263 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Boston Scientific by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock valued at $7,252,253,000 after purchasing an additional 1,681,454 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Boston Scientific by 5.9% in the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after purchasing an additional 2,336,348 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Boston Scientific by 1.5% in the 4th quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after purchasing an additional 550,490 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Boston Scientific by 1.9% during the first quarter. Geode Capital Management LLC now owns 25,329,129 shares of the medical equipment provider’s stock valued at $1,263,857,000 after purchasing an additional 473,888 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

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.