BTIG Research reiterated their buy rating on shares of Boston Scientific (NYSE:BSX) in a report published on Tuesday, October 16th. The brokerage currently has a $45.00 price target on the medical equipment provider’s stock.
BSX has been the topic of a number of other research reports. Royal Bank of Canada increased their price target on Boston Scientific to $36.00 and gave the company a top pick rating in a research note on Monday, July 23rd. Morgan Stanley raised their price objective on Boston Scientific from $38.00 to $48.00 and gave the stock an overweight rating in a research note on Tuesday, October 2nd. Sanford C. Bernstein initiated coverage on Boston Scientific in a research note on Wednesday, June 27th. They set an outperform rating and a $38.00 price objective on the stock. SunTrust Banks raised their price objective on Boston Scientific to $39.00 and gave the stock a buy rating in a research note on Monday, July 23rd. Finally, Guggenheim reaffirmed a buy rating and set a $43.00 price objective on shares of Boston Scientific in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $39.00.
Shares of BSX stock traded up $0.16 during trading hours on Tuesday, reaching $38.60. The company had a trading volume of 9,208,783 shares, compared to its average volume of 8,332,746. 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 company has a market cap of $52.52 billion, a P/E ratio of 30.63, a price-to-earnings-growth ratio of 2.49 and a beta of 0.68. 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 quarterly earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.40 billion. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 EPS. Research analysts anticipate that Boston Scientific will post 1.39 earnings per share for the current fiscal year.
In other Boston Scientific news, EVP David A. Pierce sold 5,000 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $38.80, for a total transaction of $194,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Wendy Carruthers sold 1,500 shares of the stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $36.64, for a total value of $54,960.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 414,000 shares of company stock valued at $15,347,937. Corporate insiders own 0.73% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. grew its holdings in shares of Boston Scientific by 7.8% in the 2nd quarter. Sei Investments Co. now owns 3,853,853 shares of the medical equipment provider’s stock valued at $126,021,000 after acquiring an additional 278,777 shares in the last quarter. Waddell & Reed Financial Inc. bought a new position in shares of Boston Scientific in the 2nd quarter valued at about $5,559,000. Cubist Systematic Strategies LLC grew its holdings in shares of Boston Scientific by 3.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,105 shares of the medical equipment provider’s stock valued at $1,671,000 after acquiring an additional 1,547 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Boston Scientific by 2.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 965,855 shares of the medical equipment provider’s stock valued at $31,583,000 after acquiring an additional 19,383 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Boston Scientific by 63.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 319,940 shares of the medical equipment provider’s stock valued at $10,462,000 after acquiring an additional 124,350 shares in the last quarter. Hedge funds and other institutional investors own 91.24% 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: 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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