Piper Jaffray Companies initiated coverage on shares of Boston Scientific (NYSE:BSX) in a research report issued on Friday. The brokerage set an “overweight” rating and a $31.00 price target on the medical equipment provider’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 16.76% from the company’s current price.
Other equities research analysts also recently issued research reports about the stock. TheStreet upgraded shares of Boston Scientific from a “c+” rating to a “b” rating in a research note on Thursday, January 18th. BMO Capital Markets reiterated a “buy” rating and set a $31.00 price target on shares of Boston Scientific in a research note on Wednesday, November 29th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Boston Scientific in a research note on Wednesday, November 29th. Canaccord Genuity decreased their price target on shares of Boston Scientific from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, November 29th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $31.00 price target on shares of Boston Scientific in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $30.75.
Shares of Boston Scientific (NYSE BSX) traded up $0.07 during trading on Friday, hitting $26.55. 802,220 shares of the stock traded hands, compared to its average volume of 9,076,065. The firm has a market capitalization of $36,806.37, a P/E ratio of 379.29, a price-to-earnings-growth ratio of 1.94 and a beta of 0.81. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.50 and a current ratio of 0.68. Boston Scientific has a twelve month low of $24.02 and a twelve month high of $29.93.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Thursday, February 1st. The medical equipment provider reported $0.34 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.34. Boston Scientific had a net margin of 1.15% and a return on equity of 24.27%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the company earned $0.30 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. analysts anticipate that Boston Scientific will post 1.37 earnings per share for the current year.
In other Boston Scientific news, SVP Maulik Nanavaty sold 15,568 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.38, for a total transaction of $395,115.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Valley Gold Master Fund L. Sun acquired 408,006 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were purchased at an average cost of $0.45 per share, with a total value of $183,602.70. Insiders sold 177,032 shares of company stock valued at $4,648,733 over the last ninety days. 0.74% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in BSX. BB&T Corp grew its position in shares of Boston Scientific by 46.6% during the 3rd quarter. BB&T Corp now owns 18,945 shares of the medical equipment provider’s stock worth $552,000 after buying an additional 6,019 shares during the period. Xact Kapitalforvaltning AB grew its position in shares of Boston Scientific by 1.8% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 228,469 shares of the medical equipment provider’s stock worth $6,664,000 after buying an additional 4,128 shares during the period. Huntington National Bank grew its position in shares of Boston Scientific by 45.2% during the 3rd quarter. Huntington National Bank now owns 60,712 shares of the medical equipment provider’s stock worth $1,771,000 after buying an additional 18,912 shares during the period. Aperio Group LLC grew its position in shares of Boston Scientific by 12.5% during the 3rd quarter. Aperio Group LLC now owns 516,577 shares of the medical equipment provider’s stock worth $15,069,000 after buying an additional 57,485 shares during the period. Finally, Rehmann Capital Advisory Group grew its position in shares of Boston Scientific by 39.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 12,131 shares of the medical equipment provider’s stock worth $354,000 after buying an additional 3,432 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.
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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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