Boston Scientific (NYSE:BSX – Get Rating) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued on Tuesday, TheStreetRatingsTable reports.
BSX has been the subject of several other research reports. Bank of America started coverage on shares of Boston Scientific in a research note on Tuesday, March 1st. They set a “buy” rating for the company. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial increased their target price on shares of Boston Scientific from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, December 21st. Morgan Stanley dropped their price target on shares of Boston Scientific from $53.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, February 3rd. Finally, Raymond James lowered 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 note on Thursday, February 3rd. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and an average price target of $49.20.
BSX opened at $42.07 on Tuesday. Boston Scientific has a one year low of $37.13 and a one year high of $46.28. The firm has a market capitalization of $60.02 billion, a price-to-earnings ratio of 60.97, a PEG ratio of 2.26 and a beta of 0.84. The business has a 50 day simple moving average of $43.29 and a two-hundred day simple moving average of $42.98. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.48 and a quick ratio of 1.10.
Boston Scientific (NYSE:BSX – Get Rating) last announced its quarterly earnings data on Wednesday, February 2nd. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. The company had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.11 billion. Boston Scientific had a return on equity of 14.43% and a net margin of 8.63%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. As a group, sell-side analysts expect that Boston Scientific will post 1.76 EPS for the current fiscal year.
In other news, CFO Daniel J. Brennan sold 53,182 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $42.75, for a total transaction of $2,273,530.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Wendy Carruthers sold 3,321 shares of the firm’s stock in a transaction on Wednesday, December 15th. The stock was sold at an average price of $40.83, for a total value of $135,596.43. The disclosure for this sale can be found here. Insiders have sold a total of 145,757 shares of company stock valued at $6,104,891 over the last ninety days. Company insiders own 0.71% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Boston Scientific in the 4th quarter worth approximately $563,108,000. Walleye Capital LLC bought a new position in shares of Boston Scientific in the fourth quarter worth $6,697,000. Quent Capital LLC bought a new position in shares of Boston Scientific in the fourth quarter worth $35,000. Topel & Distasi Wealth Management LLC bought a new position in shares of Boston Scientific in the fourth quarter worth $378,000. Finally, JustInvest LLC increased its stake in Boston Scientific by 3.4% in the fourth quarter. JustInvest LLC now owns 38,292 shares of the medical equipment provider’s stock valued at $1,627,000 after acquiring an additional 1,251 shares during the last quarter. 89.75% of the stock is owned by hedge funds and other institutional investors.
About Boston Scientific
Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.
