Boston Scientific Co. (NYSE:BSX) Receives Average Rating of "Buy" from Brokerages

Shares of Boston Scientific Co. (NYSE:BSX - Get Free Report) have earned an average rating of "Buy" from the twenty-two analysts that are currently covering the stock, Marketbeat Ratings reports. Twenty analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $116.00.

A number of research analysts recently commented on BSX shares. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Morgan Stanley raised their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Argus set a $130.00 price target on shares of Boston Scientific in a research note on Tuesday, February 18th. Royal Bank of Canada upped their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, BTIG Research reissued a "buy" rating and set a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd.

Insiders Place Their Bets

In related news, EVP John Bradley Sorenson sold 4,572 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the sale, the executive vice president now owns 18,705 shares of the company's stock, valued at $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 411,970 shares of company stock worth $42,406,693. Insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds have recently made changes to their positions in BSX. Parnassus Investments LLC increased its holdings in shares of Boston Scientific by 0.7% in the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after buying an additional 97 shares in the last quarter. HM Payson & Co. grew its holdings in shares of Boston Scientific by 1.4% in the 1st quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock worth $694,000 after acquiring an additional 98 shares during the last quarter. Baldwin Investment Management LLC raised its position in shares of Boston Scientific by 1.2% during the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after purchasing an additional 102 shares during the period. Park Square Financial Group LLC lifted its holdings in shares of Boston Scientific by 5.2% during the first quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock valued at $208,000 after purchasing an additional 103 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of Boston Scientific by 13.2% during the first quarter. HHM Wealth Advisors LLC now owns 881 shares of the medical equipment provider's stock valued at $89,000 after purchasing an additional 103 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Stock Down 1.0%

NYSE:BSX traded down $0.97 during trading hours on Thursday, hitting $98.43. The stock had a trading volume of 9,101,174 shares, compared to its average volume of 6,523,973. The company has a market cap of $145.62 billion, a PE ratio of 78.74, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The business has a 50 day simple moving average of $100.70 and a two-hundred day simple moving average of $98.55. Boston Scientific has a 1-year low of $71.88 and a 1-year high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The firm's quarterly revenue was up 20.9% on a year-over-year basis. Analysts predict that Boston Scientific will post 2.85 EPS for the current year.

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.