Boston Scientific Corporation (NYSE:BSX) Receives Consensus Rating of “Moderate Buy” from Analysts

Boston Scientific Corporation (NYSE:BSX) has been given an average recommendation of “Moderate Buy” by the twenty-two ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $123.8947.

A number of brokerages recently commented on BSX. Citigroup restated a “buy” rating on shares of Boston Scientific in a research report on Wednesday, January 14th. Needham & Company LLC reissued a “buy” rating on shares of Boston Scientific in a report on Thursday, January 15th. Canaccord Genuity Group dropped their price objective on Boston Scientific from $132.00 to $131.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Royal Bank Of Canada raised their target price on Boston Scientific from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Boston Scientific in a report on Wednesday, January 21st.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $92.26 on Friday. The stock has a fifty day moving average price of $95.27 and a 200 day moving average price of $99.60. Boston Scientific has a 1-year low of $85.98 and a 1-year high of $109.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96. The company has a market cap of $136.78 billion, a PE ratio of 49.34, a P/E/G ratio of 1.66 and a beta of 0.67.

Insider Activity at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares of the company’s stock, valued at approximately $17,739,678.74. The trade was a 21.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total value of $1,266,927.48. Following the completion of the sale, the director directly owned 24,134 shares in the company, valued at $2,371,889.52. This trade represents a 34.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 80,204 shares of company stock valued at $7,998,563 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of large investors have recently bought and sold shares of BSX. Brighton Jones LLC boosted its stake in shares of Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock valued at $2,445,000 after acquiring an additional 226 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in Boston Scientific by 7.8% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 4,529 shares of the medical equipment provider’s stock valued at $486,000 after purchasing an additional 326 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Boston Scientific by 9.0% during the 2nd quarter. Fifth Third Bancorp now owns 296,046 shares of the medical equipment provider’s stock worth $31,798,000 after purchasing an additional 24,557 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Boston Scientific during the second quarter worth about $302,000. Finally, BCS Wealth Management raised its position in shares of Boston Scientific by 34.8% in the second quarter. BCS Wealth Management now owns 4,493 shares of the medical equipment provider’s stock valued at $483,000 after buying an additional 1,161 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.