Boston Scientific Corporation (NYSE:BSX) Given Average Rating of "Buy" by Brokerages

Key Points

• Boston Scientific Corporation (NYSE:BSX) has received an average recommendation of "Buy" from 26 analysts, with 21 assigning buy ratings and three giving a strong buy rating.
• The company's 1-year price target from analysts averages $117.50, with recent reports from Morgan Stanley and Barclays raising their target prices to $125.00 and $133.00, respectively.
• Boston Scientific reported earnings of $0.75 per share for the latest quarter, exceeding estimates, with a total revenue of $5.06 billion, marking a year-over-year increase of 22.8%.

Boston Scientific Corporation (NYSE:BSX - Get Free Report) has been given an average recommendation of "Buy" by the twenty-six analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $117.50.

Several research analysts have recently issued reports on the company. Barclays increased their target price on Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Evercore ISI boosted their target price on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Raymond James Financial upped their target price on Boston Scientific from $121.00 to $124.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 24th. Finally, BTIG Research restated a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd.

Insider Buying and Selling at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president directly owned 18,705 shares of the company's stock, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $106.97, for a total transaction of $5,348,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares in the company, valued at $19,077,243.74. This represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 282,288 shares of company stock worth $29,411,601. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

A number of large investors have recently made changes to their positions in the stock. Colonial Trust Co SC lifted its holdings in Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 260 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Boston Scientific in the fourth quarter valued at $25,000. Sunbeam Capital Management LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at $26,000. 1248 Management LLC acquired a new position in shares of Boston Scientific during the 1st quarter worth about $26,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Boston Scientific in the 1st quarter valued at about $27,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 0.5%

Boston Scientific stock traded up $0.48 during trading on Friday, hitting $105.40. 6,338,985 shares of the company were exchanged, compared to its average volume of 7,453,291. Boston Scientific has a 52 week low of $71.88 and a 52 week high of $108.94. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The business's 50 day moving average is $103.61 and its 200 day moving average is $101.80. The company has a market capitalization of $155.93 billion, a P/E ratio of 62.74, a PEG ratio of 2.53 and a beta of 0.66.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The firm had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The company's revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. Analysts predict that Boston Scientific will post 2.85 earnings per share for the current year.

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.