Boston Scientific (NYSE:BSX) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Boston Scientific (NYSE:BSX) from a buy rating to a hold rating in a research note released on Friday morning.

Several other equities analysts have also recently issued reports on BSX. Barclays lifted their price objective on Boston Scientific from $78.00 to $86.00 and gave the stock an overweight rating in a report on Thursday, August 22nd. BTIG Research boosted their price objective on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a buy rating in a research report on Monday, July 15th. JPMorgan Chase & Co. raised their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the company an overweight rating in a report on Thursday, July 25th. The Goldman Sachs Group started coverage on shares of Boston Scientific in a report on Thursday, May 30th. They issued a buy rating and a $90.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a hold rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $85.38.

Boston Scientific Trading Up 0.2 %

NYSE:BSX opened at $83.51 on Friday. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $84.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The stock has a fifty day moving average price of $78.23 and a two-hundred day moving average price of $74.28. The stock has a market capitalization of $122.52 billion, a price-to-earnings ratio of 70.18, a PEG ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 20,949 shares of company stock worth $1,627,877. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Precision Wealth Strategies LLC acquired a new stake in Boston Scientific in the fourth quarter valued at $956,000. Aveo Capital Partners LLC grew its stake in Boston Scientific by 1.3% in the fourth quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock worth $742,000 after purchasing an additional 171 shares in the last quarter. Principal Securities Inc. bought a new stake in Boston Scientific in the fourth quarter valued at about $233,000. Jump Financial LLC bought a new stake in Boston Scientific in the fourth quarter valued at about $361,000. Finally, Janney Montgomery Scott LLC lifted its holdings in Boston Scientific by 1.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 175,289 shares of the medical equipment provider’s stock worth $10,133,000 after buying an additional 3,058 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.