Boston Scientific (NYSE:BSX) had its price objective lifted by equities research analysts at Morgan Stanley from $30.00 to $33.00 in a research note issued on Monday. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 18.66% from the company’s previous close.
A number of other brokerages have also issued reports on BSX. Zacks Investment Research upgraded Boston Scientific from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Barclays restated a “buy” rating and set a $32.00 price objective on shares of Boston Scientific in a research report on Wednesday, January 10th. TheStreet upgraded Boston Scientific from a “c+” rating to a “b” rating in a research report on Thursday, January 18th. Jefferies Group restated a “neutral” rating on shares of Boston Scientific in a research report on Friday, February 2nd. Finally, ValuEngine lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.16.
Shares of Boston Scientific stock traded down $0.12 during mid-day trading on Monday, reaching $27.81. The company’s stock had a trading volume of 721,349 shares, compared to its average volume of 8,346,226. Boston Scientific has a 1-year low of $24.02 and a 1-year high of $29.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.68 and a quick ratio of 0.49. The stock has a market cap of $38,401.27, a price-to-earnings ratio of 398.57, a PEG ratio of 2.02 and a beta of 0.82.
In related news, EVP Michael P. Phalen sold 15,835 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $25.25, for a total value of $399,833.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin J. Ballinger sold 42,803 shares of the stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $28.32, for a total transaction of $1,212,180.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 217,079 shares of company stock valued at $5,804,645. 0.74% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Truewealth LLC bought a new position in shares of Boston Scientific in the 4th quarter valued at about $116,000. Icon Wealth Partners LLC bought a new stake in Boston Scientific in the fourth quarter worth about $117,000. Cerebellum GP LLC bought a new stake in Boston Scientific in the fourth quarter worth about $126,000. Delpha Capital Management LLC bought a new stake in Boston Scientific in the fourth quarter worth about $135,000. Finally, Valeo Financial Advisors LLC bought a new stake in Boston Scientific in the third quarter worth about $138,000. 91.04% of the stock is owned by hedge funds and other institutional investors.
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About Boston Scientific
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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