Needham Maintains a Buy Rating on Boston Scientific (BSX)


In a report issued on November 18, Michael Matson from Needham maintained a Buy rating on Boston Scientific (BSX). The company’s shares closed last Tuesday at $41.47.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 8.3% and a 63.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Boston Scientific with a $45.93 average price target, representing a 12.9% upside. In a report issued on February 5, BTIG also initiated coverage with a Buy rating on the stock with a $46.00 price target.

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Based on Boston Scientific’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2 billion and GAAP net loss of $147 million. In comparison, last year the company earned revenue of $2.63 billion and had a net profit of $154 million.

Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BSX in relation to earlier this year. Most recently, in November 2019, Thepaut Eric Francis Yves, the SVP & Pres, Eur, Mid-East, Afr of BSX sold 22,487 shares for a total of $960,195.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. The Cardiovascular segment comprises of technologies or diagnosing and treating coronary artery disease and other cardiovascular disorders including structural heart conditions. The MedSurg segment focuses on Endoscopy, which provides devices to diagnose and treat a broad range of gastrointestinal and pulmonary conditions with innovative and invasive technologies. The company was founded by John E. Abele and Pete Michael Nicholas on June 29, 1979 and is headquartered in Marlborough, MA.

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