Boston Scientific (NYSE:BSX) had its price objective reduced by Canaccord Genuity from $45.00 to $43.00 in a research note issued on Wednesday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Canaccord Genuity’s price objective suggests a potential upside of 19.98% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Guggenheim restated a “buy” rating and issued a $48.00 price target on shares of Boston Scientific in a research note on Friday, February 8th. SunTrust Banks restated a “buy” rating and issued a $47.00 price target on shares of Boston Scientific in a research note on Friday, February 8th. Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of Boston Scientific in a research note on Wednesday, February 6th. Argus raised their price target on shares of Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. Finally, Zacks Investment Research upgraded shares of Boston Scientific from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $40.72.
Boston Scientific stock traded down $0.33 during trading hours on Wednesday, reaching $35.84. 297,014 shares of the stock were exchanged, compared to its average volume of 6,543,217. The company has a market capitalization of $50.29 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 2.21 and a beta of 0.87. The company has a quick ratio of 0.54, a current ratio of 0.76 and a debt-to-equity ratio of 0.55. Boston Scientific has a twelve month low of $27.91 and a twelve month high of $41.00.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Boston Scientific had a net margin of 17.01% and a return on equity of 25.92%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the company posted $0.34 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts expect that Boston Scientific will post 1.55 earnings per share for the current year.
In other Boston Scientific news, SVP Maulik Nanavaty sold 3,039 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $37.81, for a total transaction of $114,904.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David A. Pierce sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $38.15, for a total transaction of $190,750.00. Following the transaction, the executive vice president now owns 29,201 shares of the company’s stock, valued at approximately $1,114,018.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 342,352 shares of company stock worth $13,701,434. 0.66% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its position in shares of Boston Scientific by 16.9% during the 3rd quarter. LPL Financial LLC now owns 177,790 shares of the medical equipment provider’s stock valued at $6,845,000 after buying an additional 25,747 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Boston Scientific by 14.3% in the third quarter. Mackenzie Financial Corp now owns 14,063 shares of the medical equipment provider’s stock worth $541,000 after acquiring an additional 1,762 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Boston Scientific by 195.0% in the third quarter. Captrust Financial Advisors now owns 9,230 shares of the medical equipment provider’s stock worth $355,000 after acquiring an additional 6,101 shares during the last quarter. Kentucky Retirement Systems bought a new position in Boston Scientific in the third quarter worth about $1,325,000. Finally, Kepos Capital LP lifted its holdings in Boston Scientific by 208.1% in the third quarter. Kepos Capital LP now owns 152,364 shares of the medical equipment provider’s stock worth $5,866,000 after acquiring an additional 102,904 shares during the last quarter. Hedge funds and other institutional investors own 91.70% of the company’s stock.
Boston Scientific Company Profile
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. 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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