TheStreet lowered shares of Boston Scientific (NYSE:BSX) from a b rating to a c+ rating in a report released on Thursday.
A number of other equities research analysts have also weighed in on the stock. Needham & Company LLC upgraded shares of Boston Scientific from a buy rating to a strong-buy rating and lifted their price objective for the company from $25.04 to $32.00 in a report on Friday. SunTrust Banks set a $33.00 price objective on shares of Boston Scientific and gave the company a buy rating in a report on Monday, December 4th. Cowen set a $31.00 price objective on shares of Boston Scientific and gave the company a buy rating in a report on Thursday, November 30th. BMO Capital Markets reiterated a buy rating and set a $31.00 price objective on shares of Boston Scientific in a report on Wednesday, November 29th. Finally, BTIG Research upgraded shares of Boston Scientific from a neutral rating to a buy rating and set a $31.00 price objective for the company in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $30.97.
Shares of Boston Scientific (NYSE BSX) opened at $25.77 on Thursday. Boston Scientific has a twelve month low of $20.69 and a twelve month high of $29.93. The firm has a market cap of $35,387.26, a PE ratio of 21.12, a P/E/G ratio of 1.99 and a beta of 0.96. The company has a current ratio of 0.72, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the business posted $0.27 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. equities analysts forecast that Boston Scientific will post 1.25 earnings per share for the current fiscal year.
In other news, EVP Supratim Bose sold 347,137 shares of Boston Scientific stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $29.12, for a total value of $10,108,629.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy A. Pratt sold 11,061 shares of Boston Scientific stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $29.24, for a total transaction of $323,423.64. Following the completion of the transaction, the executive vice president now directly owns 174,681 shares in the company, valued at approximately $5,107,672.44. The disclosure for this sale can be found here. Insiders have sold a total of 424,698 shares of company stock worth $12,273,553 in the last three months. Insiders own 0.74% of the company’s stock.
Several institutional investors have recently modified their holdings of BSX. NGAM Advisors L.P. grew its position in shares of Boston Scientific by 12.4% in the 2nd quarter. NGAM Advisors L.P. now owns 49,840 shares of the medical equipment provider’s stock worth $1,382,000 after buying an additional 5,513 shares during the last quarter. IFP Advisors Inc grew its position in shares of Boston Scientific by 30.4% in the 2nd quarter. IFP Advisors Inc now owns 9,077 shares of the medical equipment provider’s stock worth $252,000 after buying an additional 2,114 shares during the last quarter. Global X Management Co. LLC grew its position in shares of Boston Scientific by 29.2% in the 2nd quarter. Global X Management Co. LLC now owns 24,843 shares of the medical equipment provider’s stock worth $689,000 after buying an additional 5,610 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Boston Scientific by 30.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,083,089 shares of the medical equipment provider’s stock worth $30,023,000 after buying an additional 254,100 shares during the last quarter. Finally, Wetherby Asset Management Inc. grew its position in shares of Boston Scientific by 3.9% in the 2nd quarter. Wetherby Asset Management Inc. now owns 13,788 shares of the medical equipment provider’s stock worth $382,000 after buying an additional 523 shares during the last quarter. 90.57% of the stock is currently owned by hedge funds and other institutional investors.
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Boston Scientific Company Profile
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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