Boston Scientific (NYSE:BSX) Given Hold Rating at Needham & Company LLC

Boston Scientific (NYSE:BSX - Get Free Report)'s stock had its "hold" rating reissued by analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports.

Other analysts also recently issued reports about the company. Truist Financial raised their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Morgan Stanley lifted their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. StockNews.com upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada lifted their target price on Boston Scientific from $95.00 to $98.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $93.39.

Boston Scientific Price Performance

Shares of NYSE BSX traded up $0.03 during midday trading on Thursday, reaching $84.02. 7,427,184 shares of the stock traded hands, compared to its average volume of 6,101,325. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The stock has a market capitalization of $123.27 billion, a PE ratio of 70.61, a P/E/G ratio of 2.87 and a beta of 0.80. Boston Scientific has a one year low of $50.26 and a one year high of $88.79. The company's 50 day moving average is $83.91 and its 200 day moving average is $78.17.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results 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 firm 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 16.59% and a net margin of 12.00%. The company's quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. On average, equities research analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares of the company's stock, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares of the company's stock, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company's stock, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently modified their holdings of BSX. Capital World Investors lifted its holdings in shares of Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider's stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares during the period. Marshall Wace LLP lifted its holdings in shares of Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider's stock worth $517,544,000 after purchasing an additional 3,608,158 shares during the period. Capital Research Global Investors acquired a new position in Boston Scientific in the first quarter valued at approximately $182,897,000. AustralianSuper Pty Ltd lifted its holdings in Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider's stock valued at $224,320,000 after acquiring an additional 2,615,903 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Boston Scientific by 1.6% in the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider's stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

About Boston Scientific

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.