Boston Scientific (NYSE:BSX) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Boston Scientific (NYSE:BSX - Free Report) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other research firms have also recently weighed in on BSX. Barclays boosted their price target on Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Stifel Nicolaus upped their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Truist Financial lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Argus set a $130.00 price objective on shares of Boston Scientific in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company lifted their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boston Scientific has an average rating of "Moderate Buy" and a consensus target price of $108.91.

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Boston Scientific Price Performance

Shares of Boston Scientific stock traded up $1.46 on Friday, hitting $95.59. The company's stock had a trading volume of 11,908,794 shares, compared to its average volume of 5,775,631. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average price of $100.54 and a 200-day moving average price of $91.37. Boston Scientific has a 52-week low of $65.52 and a 52-week high of $107.17. The company has a market capitalization of $141.07 billion, a P/E ratio of 76.47, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS 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%. On average, equities research analysts expect that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 137,302 shares of company stock worth $14,319,269. Corporate insiders own 0.50% of the company's stock.

Institutional Trading of Boston Scientific

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Boston Scientific by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock worth $11,869,805,000 after buying an additional 1,600,062 shares in the last quarter. State Street Corp boosted its position in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares during the period. Wellington Management Group LLP grew its stake in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock valued at $2,729,371,000 after purchasing an additional 1,041,329 shares during the period. Finally, Capital World Investors raised its stake in shares of Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares in the last quarter. 89.07% of the stock is 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.