Boston Scientific (NYSE:BSX) Sets New 12-Month High at $82.90

Boston Scientific Co. (NYSE:BSX)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $82.90 and last traded at $82.86, with a volume of 117770 shares changing hands. The stock had previously closed at $82.65.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BSX shares. Evercore ISI lifted their price objective on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Robert W. Baird raised their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. BTIG Research raised their target price on shares of Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Needham & Company LLC raised their target price on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Two 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.38.

Boston Scientific Stock Performance

The firm’s 50-day moving average price is $77.79 and its two-hundred day moving average price is $73.87. The firm has a market capitalization of $121.58 billion, a PE ratio of 69.64, a P/E/G ratio of 2.71 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. As a group, research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 20,949 shares of company stock valued at $1,627,877 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Several institutional investors have recently made changes to their positions in the stock. CVA Family Office LLC boosted its holdings 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 purchasing an additional 131 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Boston Scientific by 0.6% during the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock worth $1,740,000 after purchasing an additional 139 shares during the period. ST Germain D J Co. Inc. lifted its stake in Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after acquiring an additional 143 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after acquiring an additional 148 shares during the last quarter. Finally, Transcend Capital Advisors LLC lifted its stake in Boston Scientific by 2.2% in the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 148 shares during the last quarter. 89.07% of the stock is currently 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.