Boston Scientific’s (BSX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Boston Scientific (NYSE:BSXFree Report) in a research report report published on Tuesday, Benzinga reports. Needham & Company LLC currently has a $82.00 price target on the medical equipment provider’s stock.

Several other analysts have also recently issued reports on the company. Raymond James increased their target price on Boston Scientific from $73.00 to $85.00 and gave the stock a strong-buy rating in a research report on Thursday, April 25th. Argus increased their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the company a buy rating in a report on Tuesday, May 28th. Evercore ISI boosted their target price on shares of Boston Scientific from $72.00 to $78.00 and gave the stock an outperform rating in a report on Thursday, April 25th. Royal Bank of Canada raised their target price on shares of Boston Scientific from $78.00 to $82.00 and gave the company an outperform rating in a research note on Thursday, April 25th. Finally, Barclays boosted their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an overweight rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of Moderate Buy and an average price target of $76.70.

Check Out Our Latest Stock Analysis on Boston Scientific

Boston Scientific Stock Performance

NYSE:BSX opened at $76.98 on Tuesday. The stock has a 50-day simple moving average of $73.71 and a two-hundred day simple moving average of $66.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $77.64. The firm has a market capitalization of $112.94 billion, a PE ratio of 64.69, a P/E/G ratio of 2.63 and a beta of 0.81.

Boston Scientific (NYSE:BSXGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. Analysts forecast that Boston Scientific will post 2.32 EPS for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,620,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $74.14, for a total value of $958,704.34. Following the transaction, the executive vice president now owns 31,422 shares of the company’s stock, valued at approximately $2,329,627.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,620,617. The disclosure for this sale can be found here. Insiders have sold 81,627 shares of company stock valued at $5,937,353 in the last ninety days. 0.50% of the stock is owned by company insiders.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently modified their holdings of the stock. First Foundation Advisors purchased a new position in Boston Scientific during the 1st quarter worth $25,000. Eagle Bay Advisors LLC increased its stake in shares of Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the period. RiverPark Advisors LLC purchased a new position in shares of Boston Scientific during the first quarter valued at $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific in the first quarter valued at about $31,000. Finally, YHB Investment Advisors Inc. purchased a new stake in Boston Scientific in the first quarter worth about $32,000. Institutional investors own 89.07% of the company’s stock.

About Boston Scientific

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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.

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