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StockNews.com downgrades Boston Scientific (NYSE:BSX) to hold

Boston Scientific (NYSE:BSX – Get a Free Report) was downgraded from a “buy” rating to a “hold” rating by StockNews.com research analysts in a research note issued Sunday.

Several other brokers have also recently commented on BSX. Deutsche Bank Aktiengesellschaft lifted their price target on Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a research report on Thursday, April 25. UBS Group raised their price target on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, April 25. Citigroup increased their price target on Boston Scientific from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, May 22. Barclays raised their price target on Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 26. Finally, Evercore ISI raised their price target on Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, April 25. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $76.70.

Check out our latest stock analysis on Boston Scientific

Boston Scientific shares fell 0.3%

Shares of BSX opened at $76.76 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific has a one-year low of $48.35 and a one-year high of $77.64. The stock has a market cap of $112.61 billion, a price-to-earnings ratio of 64.50, a PEG ratio of 2.65 and a beta of 0.81. The stock has a 50-day moving average of $73.09 and a 200-day moving average of $66.09.

Boston Scientific (NYSE:BSX – Get Free Report) posted its latest quarterly results on Wednesday, April 24. The medical device supplier reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The company had revenue of $3.86 billion during the quarter, compared to analyst expectations of $3.68 billion. Equities research analysts predict that Boston Scientific will post earnings per share of 2.32 for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Monday, June 3. The stock sold at an average price of $75.33, for a total value of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Monday, June 3. The stock sold at an average price of $75.33, for a total value of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. Also, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction dated Tuesday, May 28. The shares sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the transaction, the executive vice president now owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The explanation of this sale can be found here. Insiders sold 81,627 shares of the company’s stock, worth $5,937,353, in the last quarter. Corporate insiders own 0.50% of the company’s shares.

Institutional inflow and outflow

A number of hedge funds have recently made changes to their positions in BSX. Louisiana State Employees Retirement System purchased a new position in Boston Scientific during the fourth quarter valued at approximately $5,116,000. Glenmede Trust Co. NA increased its stake in Boston Scientific by 12.1% in the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment supplier worth $551,000, after purchasing an additional 1,123 shares in the last quarter. TD Asset Management Inc grew its stake in Boston Scientific by 10.7% in the fourth quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment supplier’s stock worth $93,417,000 after purchasing an additional 155,565 shares in the last quarter. HealthInvest Partners AB purchased a new position in Boston Scientific during the 4th quarter valued at approximately $3,746,000. Finally, Precision Wealth Strategies LLC purchased a new position in Boston Scientific in the fourth quarter valued at approximately $956,000. Hedge funds and other institutional investors own 89.07% of the company’s shares.

Boston Scientific company profile

(Get a free report)

Boston Scientific Corporation develops, manufactures and markets medical devices for use in various interventional medical specialties worldwide. It works through two segments, MedSurg and Cardiovascular. The company offers devices for diagnosing and treating gastrointestinal and pulmonary diseases, such as resolution clips, biliary stent systems, stents and electrocautery-enhanced delivery systems, direct visualization systems, digital catheters and single-use duodenoscopes; devices for the treatment of 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 a spinal cord stimulator system, proprietary programming software, a radio frequency generator, indirect decompression systems, exercise optimization tools and a deep brain stimulation system.

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Analyst recommendations for Boston Scientific (NYSE:BSX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat editorial staff before publication. Send any questions or comments about this story to [email protected].

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