Boston Scientific Corporation (NYSE:BSX) – Analysts at SunTrust Banks lifted their Q3 2017 earnings per share estimates for Boston Scientific Corporation in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. SunTrust Banks analyst B. Nudell now expects that the medical equipment provider will earn $0.31 per share for the quarter, up from their prior estimate of $0.30. SunTrust Banks currently has a “Buy” rating and a $34.00 target price on the stock. SunTrust Banks also issued estimates for Boston Scientific Corporation’s Q1 2018 earnings at $0.31 EPS, FY2018 earnings at $1.42 EPS, FY2019 earnings at $1.63 EPS and FY2020 earnings at $1.86 EPS.
BSX has been the topic of several other reports. UBS AG restated a “buy” rating and set a $31.00 price target (up from $30.00) on shares of Boston Scientific Corporation in a report on Tuesday, August 1st. BidaskClub cut Boston Scientific Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research cut Boston Scientific Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Boston Scientific Corporation in a report on Wednesday, August 9th. Finally, Cowen and Company restated an “outperform” rating and set a $31.00 price target on shares of Boston Scientific Corporation in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $30.77.
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Boston Scientific Corporation (NYSE BSX) traded down $0.23 during trading hours on Thursday, hitting $28.36. The stock had a trading volume of 6,526,000 shares, compared to its average volume of 6,648,832. The company has a market capitalization of $39,259.68, a PE ratio of 23.43, a P/E/G ratio of 2.21 and a beta of 1.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.72. Boston Scientific Corporation has a 52 week low of $19.67 and a 52 week high of $29.93.
Boston Scientific Corporation (NYSE:BSX) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.31. Boston Scientific Corporation had a return on equity of 23.60% and a net margin of 9.55%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the business posted $0.27 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis.
In related news, EVP Michael P. Phalen sold 15,500 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $26.87, for a total value of $416,485.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maulik Nanavaty sold 27,031 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $27.08, for a total value of $731,999.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 508,864 shares of company stock worth $14,581,669. Insiders own 0.74% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. Thrivent Financial For Lutherans raised its position in Boston Scientific Corporation by 5.5% in the 1st quarter. Thrivent Financial For Lutherans now owns 50,040 shares of the medical equipment provider’s stock valued at $1,244,000 after buying an additional 2,590 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Boston Scientific Corporation by 9.2% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,726 shares of the medical equipment provider’s stock valued at $267,000 after purchasing an additional 900 shares during the period. Marsico Capital Management LLC bought a new position in Boston Scientific Corporation in the 1st quarter valued at $28,336,000. Oppenheimer Asset Management Inc. bought a new position in Boston Scientific Corporation in the 1st quarter valued at $903,000. Finally, Highbridge Capital Management LLC bought a new position in Boston Scientific Corporation in the 1st quarter valued at $1,523,000. 90.45% of the stock is owned by institutional investors and hedge funds.
About Boston Scientific Corporation
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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