Boston Scientific (NYSE:BSX) Stock Rating Upgraded by Needham & Company LLC

Boston Scientific (NYSE:BSX - Get Free Report) was upgraded by equities research analysts at Needham & Company LLC from a "hold" rating to a "buy" rating in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $113.00 price target on the medical equipment provider's stock. Needham & Company LLC's target price indicates a potential upside of 20.86% from the stock's previous close.

Other equities analysts have also issued research reports about the company. Barclays upped their price objective on Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. UBS Group boosted their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Truist Financial dropped their price objective on shares of Boston Scientific from $120.00 to $113.00 and set a "buy" rating for the company in a report on Friday, April 11th. Argus set a $130.00 price objective on Boston Scientific in a research note on Tuesday, February 18th. Finally, Raymond James increased their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $110.22.

Boston Scientific Stock Performance

BSX traded down $1.62 during midday trading on Wednesday, reaching $93.50. The company had a trading volume of 4,623,556 shares, compared to its average volume of 6,363,771. The business has a 50-day moving average of $99.46 and a two-hundred day moving average of $94.48. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific has a 1 year low of $66.80 and a 1 year high of $107.17. The company has a market cap of $138.29 billion, a P/E ratio of 74.80, a P/E/G ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, equities research analysts predict that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, February 3rd. The shares were 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 owns 5,502 shares of the company's stock, valued at $560,103.60. The trade was a 75.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the sale, the executive vice president now directly owns 26,449 shares of the company's stock, valued at $2,776,351.53. The trade was a 19.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,183 shares of company stock valued at $13,948,476. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Investment Management Corp VA ADV purchased a new position in shares of Boston Scientific in the 4th quarter valued at approximately $25,000. Colonial Trust Co SC increased its stake in Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 260 shares in the last quarter. TFC Financial Management Inc. raised its holdings in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after buying an additional 210 shares during the last quarter. Sunbeam Capital Management LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth $26,000. Finally, Global Wealth Strategies & Associates grew its holdings in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 250 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.