Boston Scientific’s (BSX) Hold Rating Reiterated at Needham & Company LLC

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

Other analysts have also issued reports about the stock. BTIG Research boosted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Evercore ISI raised their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Truist Financial raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. Morgan Stanley increased their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Citigroup upped their price objective on Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Trading Up 1.1 %

Shares of BSX stock opened at $90.19 on Wednesday. Boston Scientific has a 1-year low of $53.93 and a 1-year high of $91.93. The firm has a market cap of $132.92 billion, a PE ratio of 74.54, a price-to-earnings-growth ratio of 2.63 and a beta of 0.79. The company has a 50-day moving average of $86.26 and a two-hundred day moving average of $80.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company posted $0.50 EPS. On average, analysts predict that Boston Scientific will post 2.46 EPS for the current year.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction that occurred on 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. Insiders sold a total of 328,157 shares of company stock valued at $27,894,270 over the last three months. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors have recently modified their holdings of the company. Dunhill Financial LLC raised its holdings 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 last quarter. Triad Wealth Partners LLC acquired a new position in Boston Scientific in the second quarter valued at $26,000. Values First Advisors Inc. purchased a new position in Boston Scientific during the third quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Boston Scientific in the 3rd quarter worth about $30,000. Finally, Capital Performance Advisors LLP acquired a new stake in Boston Scientific in the 3rd quarter worth about $30,000. 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.