StockNews.com Lowers Boston Scientific (NYSE:BSX) to Hold
Boston Scientific (NYSE:BSX – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
Several other research analysts have also weighed in on the stock. Bank of America started coverage on shares of Boston Scientific in a research note on Tuesday, March 1st. They set a “buy” rating on the stock. Raymond James decreased their price objective on shares of Boston Scientific from $51.00 to $49.00 and set a “strong-buy” rating for the company in a research report on Thursday, February 3rd. SVB Leerink dropped their price objective on shares of Boston Scientific from $48.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday, February 3rd. TheStreet lowered shares of Boston Scientific from a “b” rating to a “c+” rating in a research report on Tuesday, March 8th. Finally, Truist Financial initiated coverage on shares of Boston Scientific in a research note on Wednesday, April 13th. They issued a “buy” rating and a $52.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $48.90.
Boston Scientific stock traded down $0.79 during mid-day trading on Thursday, hitting $46.31. The company’s stock had a trading volume of 8,060,383 shares, compared to its average volume of 8,876,408. Boston Scientific has a twelve month low of $37.96 and a twelve month high of $47.49. The company has a quick ratio of 1.10, a current ratio of 1.48 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $66.07 billion, a P/E ratio of 67.12, a P/E/G ratio of 2.44 and a beta of 0.83. The stock’s fifty day moving average price is $43.81 and its two-hundred day moving average price is $42.89.
Boston Scientific (NYSE:BSX – Get Rating) last posted its quarterly earnings data on Wednesday, February 2nd. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.11 billion. Boston Scientific had a net margin of 8.63% and a return on equity of 14.43%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS. Equities analysts expect that Boston Scientific will post 1.76 earnings per share for the current year.
In other Boston Scientific news, EVP David A. Pierce sold 1,884 shares of the stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $42.55, for a total value of $80,164.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John Bradley Sorenson sold 13,167 shares of the stock in a transaction on Monday, February 7th. The stock was sold at an average price of $43.20, for a total transaction of $568,814.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,743 shares of company stock worth $5,294,188. 0.66% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in BSX. Norges Bank acquired a new position in Boston Scientific during the fourth quarter worth $563,108,000. Marshall Wace LLP boosted its holdings in Boston Scientific by 572.2% in the fourth quarter. Marshall Wace LLP now owns 6,357,680 shares of the medical equipment provider’s stock valued at $270,075,000 after acquiring an additional 5,411,822 shares in the last quarter. BlackRock Inc. lifted its position in Boston Scientific by 3.9% during the third quarter. BlackRock Inc. now owns 122,400,261 shares of the medical equipment provider’s stock valued at $5,310,947,000 after buying an additional 4,557,618 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Boston Scientific in the 4th quarter worth about $152,629,000. Finally, Deutsche Bank AG increased its holdings in Boston Scientific by 86.3% in the 3rd quarter. Deutsche Bank AG now owns 5,651,568 shares of the medical equipment provider’s stock worth $245,219,000 after buying an additional 2,618,098 shares in the last quarter. 89.75% of the stock is currently owned by institutional investors.
Boston Scientific Company Profile (Get Rating)
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.
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