Needham & Company LLC Reiterates Hold Rating for Boston Scientific (NYSE:BSX)

Needham & Company LLC reaffirmed their hold rating on shares of Boston Scientific (NYSE:BSX) in a report issued on Thursday morning,Benzinga reports.

A number of other research firms have also recently issued reports on BSX. JPMorgan Chase & Co. increased their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Truist Financial raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Citigroup upped their price objective on shares of Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Mizuho raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, BTIG Research upped their price target on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $104.26.

Boston Scientific Trading Up 0.0 %

NYSE:BSX opened at $105.01 on Thursday. Boston Scientific has a 52 week low of $64.39 and a 52 week high of $107.17. The firm’s fifty day moving average is $94.30 and its 200-day moving average is $86.84. The firm has a market cap of $154.76 billion, a P/E ratio of 86.78, a P/E/G ratio of 2.68 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Equities analysts expect that Boston Scientific will post 2.46 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. The trade was a 75.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the sale, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,302 shares of company stock valued at $4,464,725. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Boston Scientific

Large investors have recently modified their holdings of the company. Ethos Financial Group LLC purchased a new stake in Boston Scientific in the 4th quarter worth approximately $122,000. Inceptionr LLC bought a new position in shares of Boston Scientific in the fourth quarter worth $679,000. Raymond James Financial Inc. purchased a new stake in shares of Boston Scientific in the fourth quarter worth $190,780,000. Dana Investment Advisors Inc. boosted its stake in Boston Scientific by 10.5% during the fourth quarter. Dana Investment Advisors Inc. now owns 338,648 shares of the medical equipment provider’s stock valued at $30,248,000 after buying an additional 32,308 shares during the period. Finally, Arizona State Retirement System grew its position in Boston Scientific by 1.1% during the fourth quarter. Arizona State Retirement System now owns 425,982 shares of the medical equipment provider’s stock worth $38,049,000 after buying an additional 4,446 shares in the last quarter. 89.07% of the stock is currently owned by 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.