Needham & Company LLC Reaffirms “Hold” Rating for Boston Scientific (NYSE:BSX)

Needham & Company LLC reissued their hold rating on shares of Boston Scientific (NYSE:BSX) in a research note issued to investors on Monday morning,Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group upped their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, October 21st. TD Cowen increased their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird raised their price target on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Sanford C. Bernstein upped their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Four research 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Trading Up 1.5 %

Shares of NYSE BSX opened at $91.54 on Monday. Boston Scientific has a 1 year low of $53.93 and a 1 year high of $91.72. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a 50-day moving average of $85.86 and a 200 day moving average of $80.00. The stock has a market cap of $134.92 billion, a P/E ratio of 75.66, a price-to-earnings-growth ratio of 2.66 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period last year, the company earned $0.50 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts expect that Boston Scientific will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’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 in the company, valued at $13,639,695. This represents a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 309,270 shares of company stock worth $26,196,718. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of Boston Scientific

Large investors have recently added to or reduced their stakes in the company. Dunhill Financial LLC boosted its position in shares of Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in Boston Scientific during the second quarter valued at $26,000. Values First Advisors Inc. bought a new position in Boston Scientific during the third quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific in the 3rd quarter worth $30,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Boston Scientific during the 3rd quarter valued at about $30,000. 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.