Guggenheim reiterated their buy rating on shares of Boston Scientific (NYSE:BSX) in a research report released on Friday. Guggenheim currently has a $48.00 price target on the medical equipment provider’s stock.
A number of other research analysts have also weighed in on the company. Barclays started coverage on Boston Scientific in a research report on Monday, October 15th. They set an overweight rating and a $43.00 price objective for the company. Argus increased their target price on Boston Scientific from $41.00 to $43.00 and gave the company a buy rating in a research note on Friday, October 26th. Canaccord Genuity increased their target price on Boston Scientific from $40.00 to $42.00 and gave the company a buy rating in a research note on Thursday, October 25th. BTIG Research reiterated a buy rating and set a $45.00 target price on shares of Boston Scientific in a research note on Tuesday, October 16th. Finally, UBS Group started coverage on Boston Scientific in a research note on Tuesday, November 27th. They set a buy rating and a $45.00 target price on the stock. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. Boston Scientific presently has an average rating of Buy and an average price target of $40.35.
BSX stock traded up $0.34 on Friday, reaching $39.19. 6,384,083 shares of the company traded hands, compared to its average volume of 7,144,207. Boston Scientific has a one year low of $25.04 and a one year high of $39.44. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.58. The firm has a market cap of $53.76 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. Boston Scientific had a return on equity of 26.80% and a net margin of 17.01%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, research analysts expect that Boston Scientific will post 1.56 earnings per share for the current fiscal year.
In other news, Director Yoshiaki Fujimori sold 6,143 shares of the firm’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $37.13, for a total value of $228,089.59. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David A. Pierce sold 5,000 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $38.15, for a total value of $190,750.00. Following the completion of the transaction, the executive vice president now owns 29,201 shares in the company, valued at $1,114,018.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,724 shares of company stock worth $3,350,373. Company insiders own 0.73% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BSX. FMR LLC boosted its stake in shares of Boston Scientific by 10.4% in the 2nd quarter. FMR LLC now owns 156,622,452 shares of the medical equipment provider’s stock worth $5,121,554,000 after buying an additional 14,711,069 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Boston Scientific by 7,922.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,978,846 shares of the medical equipment provider’s stock worth $339,000 after buying an additional 11,829,528 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Boston Scientific by 83.3% in the 3rd quarter. Capital Research Global Investors now owns 19,394,528 shares of the medical equipment provider’s stock worth $746,689,000 after buying an additional 8,814,601 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Boston Scientific by 164.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,944,961 shares of the medical equipment provider’s stock worth $280,775,000 after buying an additional 4,941,897 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Boston Scientific by 3.7% in the 4th quarter. BlackRock Inc. now owns 116,508,996 shares of the medical equipment provider’s stock worth $4,117,428,000 after buying an additional 4,195,164 shares during the last quarter. Hedge funds and other institutional investors own 90.80% of the company’s stock.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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