Boston Scientific Co. (NYSE:BSX) Receives $93.39 Consensus PT from Analysts

Boston Scientific Co. (NYSE:BSX) has earned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $93.39.

A number of brokerages recently commented on BSX. Stifel Nicolaus boosted their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Canaccord Genuity Group boosted their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Thursday, October 24th. Sanford C. Bernstein boosted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company boosted their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th.

Boston Scientific Stock Down 0.5 %

Shares of NYSE BSX opened at $83.62 on Wednesday. The firm has a market cap of $123.14 billion, a price-to-earnings ratio of 69.11, a PEG ratio of 2.47 and a beta of 0.80. 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 52-week low of $50.84 and a 52-week high of $88.79. The business’s 50 day moving average is $84.00 and its two-hundred day moving average is $78.29.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.41%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Research analysts predict that Boston Scientific will post 2.46 EPS for the current year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock worth $26,196,718 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Institutional Trading of Boston Scientific

A number of hedge funds have recently bought and sold shares of BSX. Capital World Investors raised its stake in Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares during the period. Marshall Wace LLP raised its stake in Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after purchasing an additional 3,608,158 shares during the period. Capital Research Global Investors purchased a new position in Boston Scientific during the first quarter worth approximately $182,897,000. AustralianSuper Pty Ltd raised its stake in Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after purchasing an additional 2,615,903 shares during the period. Finally, Vanguard Group Inc. raised its stake in Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after purchasing an additional 1,988,082 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.