Boston Scientific Corporation (NYSE:BSX) has earned a consensus rating of “Buy” from the twenty-one ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $30.91.
Several brokerages have issued reports on BSX. Canaccord Genuity began coverage on Boston Scientific in a research report on Tuesday, October 24th. They set a “buy” rating and a $36.00 target price on the stock. Zacks Investment Research raised Boston Scientific from a “sell” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Friday, October 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 target price on shares of Boston Scientific in a research report on Tuesday, October 3rd. BMO Capital Markets reaffirmed a “buy” rating and set a $30.00 target price on shares of Boston Scientific in a research report on Friday, October 13th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $34.00 target price on shares of Boston Scientific in a research report on Monday, October 2nd.
Shares of Boston Scientific (NYSE BSX) traded up $0.15 during midday trading on Friday, reaching $27.40. The company’s stock had a trading volume of 6,942,000 shares, compared to its average volume of 10,931,941. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.50. The company has a market cap of $37,419.59, a PE ratio of 44.92, a PEG ratio of 1.95 and a beta of 0.96. Boston Scientific has a 1-year low of $23.29 and a 1-year high of $29.93.
Boston Scientific (NYSE:BSX) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $2.22 billion for 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 for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. analysts forecast that Boston Scientific will post 1.25 EPS for the current year.
In other news, insider Valley Gold Master Fund L. Sun bought 408,006 shares of Boston Scientific stock in a transaction that occurred on Tuesday, November 28th. The stock was bought at an average price of $0.45 per share, for a total transaction of $183,602.70. Also, EVP Michael P. Phalen sold 15,835 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $25.25, for a total value of $399,833.75. The disclosure for this sale can be found here. Insiders sold a total of 96,585 shares of company stock valued at $2,578,197 in the last three months. Insiders own 0.74% of the company’s stock.
A number of hedge funds have recently modified their holdings of BSX. AJO LP purchased a new position in Boston Scientific in the 2nd quarter worth $783,000. Ameriprise Financial Inc. raised its stake in Boston Scientific by 25.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,906,985 shares of the medical equipment provider’s stock worth $52,863,000 after acquiring an additional 387,611 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Boston Scientific by 6.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 68,419 shares of the medical equipment provider’s stock worth $1,898,000 after acquiring an additional 3,912 shares during the last quarter. Thrivent Financial For Lutherans raised its stake in Boston Scientific by 2.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 51,470 shares of the medical equipment provider’s stock worth $1,427,000 after acquiring an additional 1,430 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Boston Scientific by 4.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,603,132 shares of the medical equipment provider’s stock worth $99,879,000 after acquiring an additional 167,326 shares during the last quarter. 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.
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