Boston Scientific Co. (NYSE:BSX) Given Average Recommendation of “Buy” by Brokerages

Boston Scientific Co. (NYSE:BSX – Get Rating) has been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $49.50.

BSX has been the subject of a number of recent research reports. Bank of America initiated coverage on shares of Boston Scientific in a research report on Tuesday, March 1st. They set a “buy” rating for the company. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. Needham & Company LLC raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Friday, May 27th. TheStreet lowered shares of Boston Scientific from a “b” rating to a “c+” rating in a research report on Tuesday, March 8th. Finally, Truist Financial initiated coverage on shares of Boston Scientific in a research report on Wednesday, April 13th. They set a “buy” rating and a $52.00 price target for the company.

In related news, SVP Scott Olson sold 700 shares of Boston Scientific stock in a transaction on Friday, April 1st. The shares were sold at an average price of $44.55, for a total value of $31,185.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey B. Mirviss sold 10,989 shares of Boston Scientific stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $45.50, for a total transaction of $499,999.50. Following the completion of the sale, the executive vice president now directly owns 119,961 shares in the company, valued at approximately $5,458,225.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,513 shares of company stock valued at $1,948,200. Insiders own 0.66% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in BSX. Franklin Resources Inc. grew its holdings in shares of Boston Scientific by 115.8% during the third quarter. Franklin Resources Inc. now owns 86,372 shares of the medical equipment provider’s stock worth $3,748,000 after buying an additional 46,353 shares in the last quarter. FIL Ltd grew its holdings in shares of Boston Scientific by 54.0% during the third quarter. FIL Ltd now owns 6,206,437 shares of the medical equipment provider’s stock worth $269,297,000 after buying an additional 2,176,240 shares in the last quarter. AXA S.A. grew its holdings in shares of Boston Scientific by 16.0% during the third quarter. AXA S.A. now owns 1,757,866 shares of the medical equipment provider’s stock worth $76,274,000 after buying an additional 242,976 shares in the last quarter. Wealthspire Advisors LLC purchased a new stake in shares of Boston Scientific during the third quarter worth $237,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Boston Scientific in the third quarter valued at about $49,000. 90.48% of the stock is owned by institutional investors and hedge funds.

Shares of Boston Scientific stock opened at $39.58 on Wednesday. The firm has a market capitalization of $56.58 billion, a P/E ratio of 74.68, a PEG ratio of 2.29 and a beta of 0.82. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average price of $42.12 and a 200 day moving average price of $42.40. Boston Scientific has a 52 week low of $37.96 and a 52 week high of $47.49.

Boston Scientific (NYSE:BSX – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The medical equipment provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.95 billion. Boston Scientific had a net margin of 6.65% and a return on equity of 14.51%. Boston Scientific’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. As a group, research analysts anticipate that Boston Scientific will post 1.76 earnings per share for the current fiscal year.

About Boston Scientific (Get Rating)

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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