Boston Scientific (NYSE:BSX) Upgraded at StockNews.com

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

A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research report on Friday, January 10th. Bank of America raised their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. BTIG Research increased their price objective on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $98.35.

Boston Scientific Stock Down 0.6 %

Shares of NYSE:BSX opened at $102.40 on Wednesday. The firm has a 50 day simple moving average of $93.22 and a 200-day simple moving average of $86.04. Boston Scientific has a twelve month low of $62.63 and a twelve month high of $104.25. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $150.92 billion, a PE ratio of 84.63, a P/E/G ratio of 2.69 and a beta of 0.80.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,989 shares of company stock valued at $2,702,261. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently added to or reduced their stakes in the business. Convergence Investment Partners LLC purchased a new stake in shares of Boston Scientific in the fourth quarter valued at about $209,000. Plan Group Financial LLC lifted its stake in Boston Scientific by 3.4% in the 4th quarter. Plan Group Financial LLC now owns 4,379 shares of the medical equipment provider’s stock valued at $391,000 after buying an additional 142 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Boston Scientific by 8.4% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 47,284 shares of the medical equipment provider’s stock valued at $4,223,000 after buying an additional 3,683 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Boston Scientific during the 4th quarter valued at $49,000. Finally, Atria Wealth Solutions Inc. increased its position in Boston Scientific by 56.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 17,965 shares of the medical equipment provider’s stock worth $1,605,000 after buying an additional 6,487 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

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.