Boston Scientific Corporation (NYSE:BSX) – Stock analysts at Wedbush lowered their FY2018 earnings per share (EPS) estimates for shares of Boston Scientific in a research note issued to investors on Thursday. Wedbush analyst Levy. T now expects that the medical equipment provider will post earnings per share of $1.34 for the year, down from their prior estimate of $1.37. Wedbush also issued estimates for Boston Scientific’s FY2019 earnings at $1.46 EPS and FY2020 earnings at $1.60 EPS.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. Boston Scientific had a return on equity of 23.60% and a net margin of 9.55%. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the company posted $0.27 earnings per share. Boston Scientific’s quarterly revenue was up 5.6% on a year-over-year basis.
BSX has been the subject of a number of other research reports. BidaskClub cut Boston Scientific from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. BMO Capital Markets lifted their price target on Boston Scientific from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price target on shares of Boston Scientific in a report on Monday, September 25th. Royal Bank Of Canada reiterated a “buy” rating and set a $31.00 price target on shares of Boston Scientific in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded Boston Scientific from a “sell” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $30.61.
Boston Scientific (BSX) opened at $26.15 on Friday. Boston Scientific has a 1-year low of $20.03 and a 1-year high of $29.93. The company has a current ratio of 0.72, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $35,910.00, a PE ratio of 21.54, a P/E/G ratio of 2.03 and a beta of 0.99.
In other news, EVP Timothy A. Pratt sold 10,000 shares of Boston Scientific stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $28.22, for a total value of $282,200.00. Following the completion of the sale, the executive vice president now directly owns 164,681 shares in the company, valued at $4,647,297.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Valley Gold Master Fund L. Sun purchased 408,006 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was acquired at an average price of $0.45 per share, with a total value of $183,602.70. In the last 90 days, insiders have sold 414,698 shares of company stock valued at $12,013,153. Corporate insiders own 0.74% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Securities Inc. raised its position in shares of Boston Scientific by 0.9% in the second quarter. Comerica Securities Inc. now owns 11,478 shares of the medical equipment provider’s stock valued at $318,000 after buying an additional 99 shares in the last quarter. ETRADE Capital Management LLC raised its position in shares of Boston Scientific by 1.7% in the second quarter. ETRADE Capital Management LLC now owns 10,079 shares of the medical equipment provider’s stock valued at $279,000 after buying an additional 171 shares in the last quarter. Krilogy Financial LLC raised its position in shares of Boston Scientific by 5.9% in the second quarter. Krilogy Financial LLC now owns 7,680 shares of the medical equipment provider’s stock valued at $213,000 after buying an additional 430 shares in the last quarter. Wetherby Asset Management Inc. raised its position in shares of Boston Scientific by 3.9% in the second quarter. Wetherby Asset Management Inc. now owns 13,788 shares of the medical equipment provider’s stock valued at $382,000 after buying an additional 523 shares in the last quarter. Finally, Greenwood Capital Associates LLC raised its position in shares of Boston Scientific by 1.1% in the second quarter. Greenwood Capital Associates LLC now owns 53,330 shares of the medical equipment provider’s stock valued at $1,478,000 after buying an additional 564 shares in the last quarter. Institutional investors own 90.55% of the company’s stock.
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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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