Boston Scientific (NYSE:BSX) had its price objective hoisted by equities research analysts at Wells Fargo & Co from $38.00 to $42.00 in a report released on Monday, September 17th, Stock Target Advisor reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Wells Fargo & Co’s price target would suggest a potential upside of 13.54% from the stock’s current price.
A number of other equities analysts have also recently weighed in on the company. Jefferies Financial Group raised Boston Scientific from a “hold” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $42.00 in a report on Tuesday, September 4th. Needham & Company LLC reissued a “strong-buy” rating and issued a $43.00 price target (up from $39.00) on shares of Boston Scientific in a report on Friday, September 7th. Zacks Investment Research cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, May 28th. Raymond James boosted their price target on Boston Scientific from $40.00 to $41.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 4th. Finally, Argus boosted their price target on Boston Scientific to $41.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the stock. Boston Scientific presently has an average rating of “Buy” and a consensus price target of $36.87.
BSX traded up $0.99 during trading on Monday, reaching $36.99. 8,737,432 shares of the stock were exchanged, compared to its average volume of 7,570,248. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.60 and a current ratio of 0.83. The company has a market cap of $53.24 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 2.68 and a beta of 0.59. Boston Scientific has a 1 year low of $24.54 and a 1 year high of $39.44.
Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 25th. The medical equipment provider reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.07. Boston Scientific had a return on equity of 26.35% and a net margin of 5.48%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the business earned $0.32 earnings per share. Boston Scientific’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, analysts predict that Boston Scientific will post 1.39 EPS for the current fiscal year.
In other news, SVP John Bradley Sorenson sold 10,000 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $35.86, for a total value of $358,600.00. Following the completion of the sale, the senior vice president now owns 44,636 shares of the company’s stock, valued at $1,600,646.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David A. Pierce sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $36.02, for a total value of $180,100.00. The disclosure for this sale can be found here. Insiders have sold 295,834 shares of company stock valued at $11,038,468 over the last 90 days. 0.73% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in Boston Scientific by 28.4% in the third quarter. Bank of Montreal Can now owns 1,083,172 shares of the medical equipment provider’s stock valued at $41,703,000 after purchasing an additional 239,664 shares during the last quarter. Rathbone Brothers plc purchased a new position in Boston Scientific in the third quarter valued at about $3,006,000. JCIC Asset Management Inc. purchased a new position in Boston Scientific in the third quarter valued at about $3,432,000. Barometer Capital Management Inc. purchased a new position in Boston Scientific in the third quarter valued at about $5,748,000. Finally, First American Trust FSB boosted its holdings in Boston Scientific by 1.3% in the third quarter. First American Trust FSB now owns 113,375 shares of the medical equipment provider’s stock valued at $4,365,000 after purchasing an additional 1,470 shares during the last quarter. 90.93% of the stock is owned by institutional investors.
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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