Boston Scientific Corporation (NYSE:BSX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Boston Scientific Corporation (NYSE:BSX) has received an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $123.8947.

Several research analysts have recently weighed in on BSX shares. Barclays increased their price objective on shares of Boston Scientific from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Wells Fargo & Company increased their price target on shares of Boston Scientific from $124.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Erste Group Bank cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. BTIG Research reaffirmed a “buy” rating and issued a $132.00 target price on shares of Boston Scientific in a research report on Friday, November 21st. Finally, UBS Group reiterated a “buy” rating on shares of Boston Scientific in a report on Wednesday, December 17th.

Boston Scientific Stock Up 0.1%

Shares of NYSE:BSX opened at $93.63 on Friday. The stock’s 50-day moving average price is $95.42 and its two-hundred day moving average price is $99.69. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. Boston Scientific has a 12-month low of $85.98 and a 12-month high of $109.50. The firm has a market cap of $138.81 billion, a price-to-earnings ratio of 50.07, a PEG ratio of 1.70 and a beta of 0.67.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the completion of the sale, the executive vice president directly owned 23,600 shares in the company, valued at $2,396,580. The trade was a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellen M. Zane sold 12,891 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the completion of the transaction, the director directly owned 24,134 shares in the company, valued at approximately $2,371,889.52. This represents a 34.82% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 80,204 shares of company stock worth $7,998,563. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Boston Scientific

Several large investors have recently added to or reduced their stakes in BSX. Norges Bank acquired a new stake in shares of Boston Scientific in the second quarter valued at about $2,089,937,000. Edgewood Management LLC purchased a new position in Boston Scientific in the 2nd quarter worth approximately $746,655,000. Parnassus Investments LLC grew its position in Boston Scientific by 42,978.9% in the third quarter. Parnassus Investments LLC now owns 6,884,440 shares of the medical equipment provider’s stock valued at $672,128,000 after acquiring an additional 6,868,459 shares in the last quarter. Egerton Capital UK LLP raised its stake in shares of Boston Scientific by 223.7% during the third quarter. Egerton Capital UK LLP now owns 5,312,504 shares of the medical equipment provider’s stock valued at $518,660,000 after purchasing an additional 3,671,548 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of Boston Scientific by 14,391.8% during the second quarter. Bessemer Group Inc. now owns 2,919,801 shares of the medical equipment provider’s stock worth $313,618,000 after purchasing an additional 2,899,653 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.