Boston Scientific (NYSE:BSX) Raised to "Strong-Buy" at Erste Group Bank

Erste Group Bank upgraded shares of Boston Scientific (NYSE:BSX - Free Report) to a strong-buy rating in a report released on Thursday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on BSX. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Raymond James raised their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a research note on Thursday, February 6th. StockNews.com upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Argus set a $130.00 price objective on shares of Boston Scientific in a report on Tuesday, February 18th. Finally, Needham & Company LLC upped their target price on shares of Boston Scientific from $113.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Twenty-three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Boston Scientific has a consensus rating of "Buy" and a consensus price target of $114.52.

Boston Scientific Price Performance

Boston Scientific stock traded up $0.31 during midday trading on Thursday, hitting $103.18. The company's stock had a trading volume of 920,421 shares, compared to its average volume of 7,655,146. The stock's 50-day moving average price is $98.64 and its 200-day moving average price is $96.19. Boston Scientific has a 12 month low of $71.88 and a 12 month high of $107.17. The company has a market capitalization of $152.64 billion, a PE ratio of 82.54, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

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

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the transaction, the executive vice president now owns 25,443 shares of the company's stock, valued at $2,704,845.33. The trade was a 4.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel J. Brennan sold 15,087 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares in the company, valued at approximately $25,369,256.57. The trade was a 5.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 288,497 shares of company stock valued at $29,791,055 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd purchased a new stake in shares of Boston Scientific in the first quarter worth about $27,000. Investment Management Corp VA ADV bought a new position in shares of Boston Scientific during the fourth quarter valued at approximately $25,000. Colonial Trust Co SC lifted its position in shares of Boston Scientific by 1,625.0% during the fourth 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 last quarter. TFC Financial Management Inc. lifted its holdings in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. Finally, Sunbeam Capital Management LLC purchased a new stake in shares of Boston Scientific during the fourth quarter valued at $26,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

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.