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

Boston Scientific Co. (NYSE:BSX – Get Rating) has earned an average rating of “Buy” from the twenty-one ratings firms that are covering the firm, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $53.89.

BSX has been the subject of several analyst reports. StockNews.com initiated coverage on Boston Scientific in a report on Thursday, May 18th. They issued a “buy” rating for the company. UBS Group started coverage on Boston Scientific in a research note on Tuesday, March 28th. They issued a “buy” rating and a $57.00 price target for the company. Mizuho lifted their price target on Boston Scientific from $52.00 to $56.00 in a research note on Tuesday, April 18th. Argus lifted their price target on Boston Scientific from $50.00 to $55.00 in a research note on Friday, February 17th. Finally, Needham & Company LLC lifted their price target on Boston Scientific from $48.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd.

Insider Activity

In related news, EVP Wendy Carruthers sold 11,671 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $51.96, for a total value of $606,425.16. Following the transaction, the executive vice president now directly owns 83,373 shares in the company, valued at $4,332,061.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 63,339 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $53.60, for a total transaction of $3,394,970.40. Following the transaction, the executive vice president now directly owns 213,859 shares in the company, valued at $11,462,842.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 11,671 shares of the company’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $51.96, for a total value of $606,425.16. Following the transaction, the executive vice president now owns 83,373 shares in the company, valued at $4,332,061.08. The disclosure for this sale can be found here. Insiders sold 259,627 shares of company stock worth $13,157,519 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of Boston Scientific

A number of large investors have recently modified their holdings of BSX. Householder Group Estate & Retirement Specialist LLC purchased a new position in Boston Scientific in the first quarter valued at $26,000. Asset Dedication LLC increased its holdings in Boston Scientific by 109.5% in the first quarter. Asset Dedication LLC now owns 551 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 288 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Boston Scientific by 56.7% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 636 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 230 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Boston Scientific during the first quarter worth about $32,000. Finally, BerganKDV Wealth Management LLC grew its holdings in shares of Boston Scientific by 44.3% during the first quarter. BerganKDV Wealth Management LLC now owns 658 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX opened at $51.50 on Wednesday. The stock has a 50-day moving average of $51.13 and a two-hundred day moving average of $47.74. Boston Scientific has a one year low of $34.98 and a one year high of $54.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.40. The stock has a market cap of $72.10 billion, a P/E ratio of 87.29, a P/E/G ratio of 2.40 and a beta of 0.80.

Boston Scientific (NYSE:BSX – Get Rating) last issued its quarterly earnings results on Wednesday, April 26th. The medical equipment provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Boston Scientific had a return on equity of 14.57% and a net margin of 6.91%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. As a group, research analysts predict that Boston Scientific will post 1.95 EPS for the current year.

About Boston Scientific

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Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical procedures. It operates through the MedSurg and Cardiovascular segments. The MedSurg segment includes Urology and Neuromodulation. The Cardiovascular segment consists of Cardiology and Peripheral Interventions.