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

Boston Scientific (NYSE:BSX)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports.

Several other analysts have also recently weighed in on BSX. Canaccord Genuity Group boosted their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Stifel Nicolaus boosted their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Royal Bank of Canada raised their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Raymond James boosted their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley raised their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $108.91.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $103.57 on Monday. Boston Scientific has a one year low of $65.52 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The company has a market cap of $152.85 billion, a price-to-earnings ratio of 82.86, a PEG ratio of 2.79 and a beta of 0.80. The firm has a 50 day simple moving average of $99.82 and a 200 day simple moving average of $90.79.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Research analysts predict that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,322 shares of company stock valued at $14,321,068 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. TFC Financial Management Inc. lifted its position in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares in the last quarter. Colonial Trust Co SC raised its stake in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 260 shares during the last quarter. Investment Management Corp VA ADV bought a new position in shares of Boston Scientific in the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at approximately $26,000. Finally, Dunhill Financial LLC grew its holdings in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares in the last quarter. 89.07% of the stock is 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.