Boston Scientific Co. (NYSE:BSX) Given Consensus Recommendation of “Buy” by Brokerages

Boston Scientific Co. (NYSE:BSX) has earned an average recommendation of “Buy” from the twenty brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $68.50.

Several equities research analysts have recently issued reports on BSX shares. Evercore ISI lifted their price objective on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Wells Fargo & Company upped their price objective on Boston Scientific from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Argus raised their target price on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. TD Cowen upped their price target on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Finally, Needham & Company LLC raised their price objective on shares of Boston Scientific from $60.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, February 1st.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $67.96 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The company has a market cap of $99.70 billion, a price-to-earnings ratio of 63.51, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The stock’s 50-day moving average is $67.17 and its two-hundred day moving average is $59.68. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $69.21.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. Analysts forecast that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insider Activity

In related news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,979 shares of company stock valued at $3,418,529. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in shares of Boston Scientific in the first quarter valued at about $54,000. Acadian Asset Management LLC purchased a new stake in shares of Boston Scientific during the 1st quarter worth approximately $35,000. Prudential PLC acquired a new stake in shares of Boston Scientific in the 1st quarter worth approximately $1,076,000. Cetera Investment Advisers increased its stake in Boston Scientific by 24.0% in the 1st quarter. Cetera Investment Advisers now owns 28,793 shares of the medical equipment provider’s stock valued at $1,275,000 after purchasing an additional 5,581 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Boston Scientific during the first quarter worth $230,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.