Boston Scientific (NYSE:BSX) Reaches New 12-Month High at $79.08

Shares of Boston Scientific Co. (NYSE:BSX) reached a new 52-week high during trading on Tuesday . The company traded as high as $79.08 and last traded at $78.82, with a volume of 1049141 shares. The stock had previously closed at $78.27.

Analyst Ratings Changes

A number of research firms recently commented on BSX. BTIG Research lifted their price target on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. UBS Group boosted their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Argus boosted their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Wells Fargo & Company increased their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird increased their price objective on shares of Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $82.29.

Boston Scientific Trading Up 0.4 %

The stock has a market cap of $115.30 billion, a PE ratio of 65.76, a PEG ratio of 2.67 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The company’s fifty day moving average is $76.32 and its 200-day moving average is $69.98.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. On average, analysts predict that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the sale, the director now owns 41,374 shares in the company, valued at $3,032,300.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the transaction, the director now directly owns 41,374 shares in the company, valued at $3,032,300.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the transaction, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The disclosure for this sale can be found here. Insiders have sold a total of 72,259 shares of company stock worth $5,344,014 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors have recently bought and sold shares of the company. Eastern Bank raised its stake in Boston Scientific by 23.5% during the second quarter. Eastern Bank now owns 296,360 shares of the medical equipment provider’s stock worth $22,823,000 after purchasing an additional 56,457 shares during the period. Shelton Wealth Management LLC raised its stake in shares of Boston Scientific by 9.1% in the 2nd quarter. Shelton Wealth Management LLC now owns 7,829 shares of the medical equipment provider’s stock valued at $603,000 after acquiring an additional 655 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in Boston Scientific by 86.2% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 28,821 shares of the medical equipment provider’s stock worth $2,220,000 after buying an additional 13,345 shares during the period. MFA Wealth Advisors LLC purchased a new stake in Boston Scientific during the 2nd quarter worth approximately $71,000. Finally, Argus Investors Counsel Inc. purchased a new stake in Boston Scientific during the 2nd quarter worth approximately $1,554,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.