Boston Scientific (NYSE:BSX) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Boston Scientific (NYSE:BSX) from a hold rating to a buy rating in a research report released on Thursday.

A number of other brokerages have also weighed in on BSX. Needham & Company LLC upped their target price on Boston Scientific from $71.00 to $82.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Barclays increased their price objective on Boston Scientific from $70.00 to $78.00 and gave the company an overweight rating in a research report on Friday, April 26th. Evercore ISI increased their price objective on Boston Scientific from $72.00 to $78.00 and gave the company an outperform rating in a research report on Thursday, April 25th. Robert W. Baird increased their price objective on Boston Scientific from $79.00 to $84.00 and gave the company an outperform rating in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. increased their price objective on Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific currently has an average rating of Moderate Buy and a consensus target price of $75.41.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $74.39 on Thursday. The firm has a market capitalization of $109.14 billion, a P/E ratio of 62.51, a P/E/G ratio of 2.60 and a beta of 0.77. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $70.42 and its two-hundred day simple moving average is $63.54. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $76.25.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. As a group, equities analysts anticipate that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Activity

In other news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $74.14, for a total value of $958,704.34. Following the completion of the transaction, the executive vice president now owns 31,422 shares in the company, valued at approximately $2,329,627.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $74.14, for a total value of $958,704.34. Following the completion of the transaction, the executive vice president now owns 31,422 shares in the company, valued at approximately $2,329,627.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles J. Dockendorff sold 3,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The disclosure for this sale can be found here. Insiders sold a total of 67,616 shares of company stock worth $4,819,057 in the last quarter. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Foundation Advisors bought a new position in Boston Scientific during the 1st quarter valued at approximately $25,000. Eagle Bay Advisors LLC increased its position in Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares in the last quarter. RiverPark Advisors LLC bought a new stake in shares of Boston Scientific in the 1st quarter worth $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific in the 1st quarter worth $31,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Boston Scientific in the 1st quarter worth $32,000. Institutional investors own 89.07% of the company’s stock.

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.