Boston Scientific’s (BSX) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Boston Scientific (NYSE:BSX) in a research report released on Tuesday morning. Needham & Company LLC currently has a $32.00 price target on the medical equipment provider’s stock.

A number of other brokerages have also weighed in on BSX. Canaccord Genuity assumed coverage on Boston Scientific in a research note on Tuesday, October 24th. They set a buy rating and a $36.00 target price on the stock. Zacks Investment Research upgraded Boston Scientific from a sell rating to a buy rating and set a $33.00 target price on the stock in a research note on Friday, October 20th. BMO Capital Markets reiterated a buy rating and set a $30.00 target price on shares of Boston Scientific in a research note on Friday, October 13th. SunTrust Banks reiterated a buy rating and set a $34.00 target price on shares of Boston Scientific in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a buy rating and set a $32.00 target price on shares of Boston Scientific in a research note on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $31.00.

Boston Scientific (NYSE BSX) traded down $0.48 on Tuesday, hitting $26.98. The stock had a trading volume of 11,087,601 shares, compared to its average volume of 11,837,670. Boston Scientific has a 52 week low of $23.29 and a 52 week high of $29.93. The firm has a market capitalization of $37,410.00, a PE ratio of 44.23, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. 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 (NYSE:BSX) last released its quarterly earnings data 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. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Boston Scientific had a return on equity of 23.60% and a net margin of 9.55%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. analysts forecast that Boston Scientific will post 1.25 earnings per share for the current year.

In other Boston Scientific news, SVP David A. Pierce sold 5,152 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $27.00, for a total transaction of $139,104.00. Following the transaction, the senior vice president now owns 38,116 shares in the company, valued at approximately $1,029,132. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael P. Phalen sold 15,500 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $28.42, for a total value of $440,510.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,585 shares of company stock worth $2,578,197. Corporate insiders own 0.74% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Sit Investment Associates Inc. increased its stake in shares of Boston Scientific by 37.8% in the 3rd quarter. Sit Investment Associates Inc. now owns 141,710 shares of the medical equipment provider’s stock valued at $4,134,000 after purchasing an additional 38,855 shares during the last quarter. Greenwood Capital Associates LLC increased its stake in shares of Boston Scientific by 71.7% in the 3rd quarter. Greenwood Capital Associates LLC now owns 91,579 shares of the medical equipment provider’s stock valued at $2,671,000 after purchasing an additional 38,249 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in shares of Boston Scientific by 94.9% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 38,600 shares of the medical equipment provider’s stock valued at $1,126,000 after purchasing an additional 18,800 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of Boston Scientific by 5.8% in the 3rd quarter. LS Investment Advisors LLC now owns 40,621 shares of the medical equipment provider’s stock valued at $1,185,000 after purchasing an additional 2,209 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of Boston Scientific by 1.4% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 1,197,587 shares of the medical equipment provider’s stock valued at $34,934,000 after purchasing an additional 16,992 shares during the last quarter. Hedge funds and other institutional investors own 90.51% of the company’s stock.

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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.

Analyst Recommendations for Boston Scientific (NYSE:BSX)

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