Boston Scientific (NYSE:BSX) Earns Outperform Rating from Analysts at Leerink Partners

Equities research analysts at Leerink Partners began coverage on shares of Boston Scientific (NYSE:BSX - Get Free Report) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set an "outperform" rating and a $118.00 price target on the medical equipment provider's stock. Leerink Partners' price objective points to a potential upside of 18.47% from the stock's current price.

Several other brokerages also recently weighed in on BSX. Royal Bank of Canada lifted their target price 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. Needham & Company LLC reissued a "buy" rating and issued a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Barclays upped their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Truist Financial raised their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Twenty-two analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $116.09.

Boston Scientific Stock Performance

Shares of BSX stock opened at $99.60 on Monday. The firm has a market cap of $147.35 billion, a price-to-earnings ratio of 79.68, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific has a 1 year low of $71.88 and a 1 year high of $107.17. The stock's 50-day moving average is $101.03 and its two-hundred day moving average is $98.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

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

Insider Buying and Selling at Boston Scientific

In other news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the transaction, the senior vice president now directly owns 36,193 shares of the company's stock, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares of the company's stock, valued at approximately $157,379,150.88. This trade represents a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock worth $42,406,693 in the last quarter. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

Large investors have recently added to or reduced their stakes in the stock. Colonial Trust Co SC raised its holdings in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC purchased a new position in shares of Boston Scientific in the fourth quarter valued at $26,000. 1248 Management LLC acquired a new stake in Boston Scientific during the 1st quarter valued at $26,000. Finally, Y.D. More Investments Ltd purchased a new stake in Boston Scientific during the 1st quarter worth $27,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.

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