Boston Scientific (NYSE:BSX) Reaches New 12-Month High - Should You Buy?

Boston Scientific Co. (NYSE:BSX - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $88.97 and last traded at $88.97, with a volume of 4434 shares. The stock had previously closed at $88.25.

Wall Street Analyst Weigh In

A number of research firms recently commented on BSX. Deutsche Bank Aktiengesellschaft boosted their price target on Boston Scientific from $73.00 to $78.00 and gave the stock a "hold" rating in a report on Thursday, July 25th. Bank of America boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Mizuho lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Barclays boosted their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley raised their price target on Boston Scientific from $92.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Four investment 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.com, Boston Scientific presently has an average rating of "Moderate Buy" and an average price target of $93.39.

Boston Scientific Price Performance

The firm has a market capitalization of $130.40 billion, a PE ratio of 73.17, a P/E/G ratio of 2.60 and a beta of 0.79. The company has a 50-day moving average price of $84.61 and a 200-day moving average price of $79.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.04. The company 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 17.23%. The company's quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 EPS. Sell-side analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction 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 of the company's stock, valued at $133,046,484.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company's stock, valued at approximately $3,061,135.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 309,270 shares of company stock worth $26,196,718. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC grew its position in shares of Boston Scientific by 56.6% in the first quarter. Empowered Funds LLC now owns 24,858 shares of the medical equipment provider's stock valued at $1,703,000 after purchasing an additional 8,982 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings in Boston Scientific by 23.9% in the first quarter. Atomi Financial Group Inc. now owns 6,030 shares of the medical equipment provider's stock valued at $413,000 after acquiring an additional 1,163 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Boston Scientific by 14.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 8,301 shares of the medical equipment provider's stock valued at $569,000 after purchasing an additional 1,066 shares during the last quarter. NorthRock Partners LLC grew its holdings in Boston Scientific by 6.8% during the 1st quarter. NorthRock Partners LLC now owns 9,155 shares of the medical equipment provider's stock worth $627,000 after acquiring an additional 585 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in shares of Boston Scientific by 7.9% during the first quarter. Meeder Asset Management Inc. now owns 4,102 shares of the medical equipment provider's stock worth $281,000 after purchasing an additional 299 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.