Boston Scientific Co. (NYSE:BSX) Given Consensus Rating of “Buy” by Analysts

Shares of Boston Scientific Co. (NYSE:BSX) have received a consensus rating of “Buy” from the nineteen ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $49.48.

Several research analysts have recently issued reports on the stock. Piper Sandler reiterated a “buy” rating on shares of Boston Scientific in a report on Tuesday, January 14th. ValuEngine cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Goldman Sachs Group assumed coverage on shares of Boston Scientific in a report on Wednesday. They issued a “neutral” rating and a $46.00 price objective for the company. Guggenheim set a $53.00 price objective on shares of Boston Scientific and gave the company a “buy” rating in a report on Friday, October 25th. Finally, BTIG Research assumed coverage on shares of Boston Scientific in a report on Thursday, February 6th. They issued a “buy” rating and a $46.00 price objective for the company.

In related news, SVP John Bradley Sorenson sold 4,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.58, for a total value of $204,384.00. Following the completion of the sale, the senior vice president now owns 37,585 shares in the company, valued at approximately $1,600,369.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel J. Brennan sold 20,463 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $42.03, for a total transaction of $860,059.89. Following the completion of the sale, the chief financial officer now owns 250,710 shares of the company’s stock, valued at approximately $10,537,341.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 231,064 shares of company stock valued at $10,218,416. 0.66% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its position in Boston Scientific by 526.5% in the 4th quarter. Jennison Associates LLC now owns 11,358,459 shares of the medical equipment provider’s stock worth $513,630,000 after buying an additional 9,545,336 shares in the last quarter. First Trust Advisors LP lifted its position in Boston Scientific by 431.4% in the 3rd quarter. First Trust Advisors LP now owns 1,806,774 shares of the medical equipment provider’s stock worth $73,518,000 after buying an additional 1,466,762 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Boston Scientific by 1,787.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,457,261 shares of the medical equipment provider’s stock worth $65,897,000 after buying an additional 1,380,055 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Boston Scientific by 11.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,582,733 shares of the medical equipment provider’s stock worth $614,212,000 after buying an additional 1,354,675 shares in the last quarter. Finally, State Street Corp lifted its position in Boston Scientific by 1.8% in the 4th quarter. State Street Corp now owns 60,256,156 shares of the medical equipment provider’s stock worth $2,724,783,000 after buying an additional 1,080,641 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

Shares of Boston Scientific stock traded up $0.13 on Friday, hitting $42.31. The company had a trading volume of 7,289,947 shares, compared to its average volume of 8,289,434. The business has a 50-day simple moving average of $43.87 and a 200-day simple moving average of $42.47. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.14 and a quick ratio of 0.77. The company has a market cap of $58.85 billion, a PE ratio of 12.71, a PEG ratio of 2.27 and a beta of 0.87. Boston Scientific has a 52 week low of $34.35 and a 52 week high of $46.62.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Boston Scientific had a net margin of 43.78% and a return on equity of 23.62%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. On average, equities research analysts predict that Boston Scientific will post 1.77 earnings per share for the current fiscal year.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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