Boston Scientific (NYSE:BSX) Stock Rating Lowered by StockNews.com

Boston Scientific (NYSE:BSX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

BSX has been the subject of a number of other reports. Truist Financial upped their price objective on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Argus boosted their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Raymond James raised their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Canaccord Genuity Group upped their price target on shares of Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $86.65.

Boston Scientific Trading Down 0.0 %

Shares of Boston Scientific stock opened at $83.50 on Tuesday. The firm has a market cap of $122.96 billion, a PE ratio of 70.17, a P/E/G ratio of 2.78 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $84.89. The business’s fifty day moving average is $78.94 and its two-hundred day moving average is $74.96.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results 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 return on equity of 16.59% and a net margin of 12.00%. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. Analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 20,949 shares of company stock valued at $1,627,877 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sierra Summit Advisors LLC bought a new position in Boston Scientific in the fourth quarter worth about $8,038,000. TD Asset Management Inc boosted its position in Boston Scientific by 10.7% during the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock valued at $93,417,000 after purchasing an additional 155,565 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in Boston Scientific by 225.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after buying an additional 73,219 shares during the last quarter. BDF Gestion acquired a new stake in Boston Scientific in the second quarter worth $3,570,000. Finally, Precision Wealth Strategies LLC bought a new stake in Boston Scientific in the fourth quarter valued at $956,000. 89.07% of the stock is owned by institutional investors and hedge funds.

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.