Boston Scientific (NYSE:BSX) Stock Rating Lowered by StockNews.com

Boston Scientific (NYSE:BSX - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Monday.

Other analysts have also recently issued reports about the company. TD Cowen boosted their price target on Boston Scientific from $86.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Mizuho increased their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Royal Bank of Canada raised their price target on Boston Scientific from $95.00 to $98.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. BTIG Research lifted their target price on Boston Scientific from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their price target on Boston Scientific from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $93.39.

Boston Scientific Trading Up 1.3 %

BSX stock traded up $1.10 during midday trading on Monday, reaching $84.72. The company's stock had a trading volume of 5,810,767 shares, compared to its average volume of 6,104,623. Boston Scientific has a 1 year low of $50.84 and a 1 year high of $88.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The stock has a fifty day simple moving average of $84.10 and a two-hundred day simple moving average of $78.55. The firm has a market capitalization of $124.76 billion, a price-to-earnings ratio of 70.02, a PEG ratio of 2.47 and a beta of 0.79.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.41% and a net margin of 11.26%. The company's quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company earned $0.50 earnings per share. On average, equities research analysts predict that Boston Scientific will post 2.46 EPS for the current year.

Insider Activity

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares of the company's stock, valued at approximately $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. CRA Financial Services LLC grew its holdings in shares of Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider's stock valued at $238,000 after acquiring an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider's stock valued at $115,000 after buying an additional 119 shares in the last quarter. Ashton Thomas Securities LLC increased its stake in Boston Scientific by 1.3% in the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider's stock valued at $835,000 after acquiring an additional 129 shares during the last quarter. CVA Family Office LLC grew its stake in shares of Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider's stock worth $147,000 after buying an additional 131 shares during the last quarter. Finally, Jacobsen Capital Management grew its stake in shares of Boston Scientific by 4.9% in the third quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider's stock worth $236,000 after purchasing an additional 133 shares during the last quarter. Institutional investors 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.

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