Boston Scientific (NYSE:BSX) Raised to Buy at StockNews.com

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

Several other research firms have also recently weighed in on BSX. Truist Financial increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th. Citigroup increased their price objective on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Finally, Bank of America lifted their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $97.26.

Boston Scientific Stock Performance

NYSE:BSX traded up $0.47 during trading hours on Wednesday, hitting $102.79. 4,556,679 shares of the company traded hands, compared to its average volume of 5,851,840. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific has a twelve month low of $61.08 and a twelve month high of $103.17. The firm has a 50-day moving average of $92.74 and a 200 day moving average of $85.81. The stock has a market capitalization of $151.50 billion, a price-to-earnings ratio of 84.95, a P/E/G ratio of 2.63 and a beta of 0.80.

Insider Activity

In related news, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction 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 sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,989 shares of company stock worth $2,702,261 in the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors have recently bought and sold shares of BSX. TFC Financial Management Inc. boosted its stake in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 210 shares during the last quarter. Values First Advisors Inc. purchased a new position in shares of Boston Scientific during the 3rd quarter valued at $28,000. Dunhill Financial LLC raised its stake in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the period. Global Wealth Strategies & Associates lifted its holdings in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. Finally, West Oak Capital LLC bought a new position in Boston Scientific during the fourth quarter worth about $29,000. Institutional investors 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.