Needham & Company LLC reaffirmed their buy rating on shares of Boston Scientific (NYSE:BSX) in a research note issued to investors on Tuesday morning. Needham & Company LLC currently has a $32.00 price target on the medical equipment provider’s stock.
A number of other brokerages have also commented on BSX. Canaccord Genuity dropped their price objective on shares of Boston Scientific from $36.00 to $35.00 and set a buy rating on the stock in a report on Wednesday, November 29th. Zacks Investment Research lowered shares of Boston Scientific from a hold rating to a sell rating in a report on Tuesday, January 9th. BMO Capital Markets restated a buy rating and set a $30.00 price objective on shares of Boston Scientific in a report on Friday, October 13th. JPMorgan Chase & Co. restated a buy rating on shares of Boston Scientific in a report on Wednesday, November 29th. Finally, Royal Bank of Canada upgraded shares of Boston Scientific from an outperform rating to a top pick rating in a report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $31.00.
Boston Scientific (NYSE BSX) traded up $0.15 on Tuesday, reaching $27.40. 6,942,000 shares of the company’s stock traded hands, compared to its average volume of 10,931,941. The company has a current ratio of 0.72, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $38,410.00, a price-to-earnings ratio of 44.92, a PEG ratio of 1.95 and a beta of 0.96. Boston Scientific has a 12 month low of $23.29 and a 12 month high of $29.93.
Boston Scientific (NYSE:BSX) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.21 billion. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.27 earnings per share. research analysts forecast that Boston Scientific will post 1.25 earnings per share for the current fiscal year.
In other Boston Scientific news, SVP David A. Pierce sold 5,152 shares of Boston Scientific stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $27.00, for a total value of $139,104.00. Following the sale, the senior vice president now directly owns 38,116 shares in the company, valued at approximately $1,029,132. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael P. Phalen sold 15,500 shares of Boston Scientific stock in a transaction on Monday, October 30th. The shares were sold at an average price of $28.42, for a total transaction of $440,510.00. The disclosure for this sale can be found here. Insiders sold a total of 96,585 shares of company stock worth $2,578,197 over the last quarter. Company insiders own 0.74% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in BSX. AJO LP bought a new position in shares of Boston Scientific in the 2nd quarter valued at about $783,000. Ameriprise Financial Inc. grew its position in shares of Boston Scientific by 25.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,906,985 shares of the medical equipment provider’s stock valued at $52,863,000 after acquiring an additional 387,611 shares during the period. Profund Advisors LLC grew its position in shares of Boston Scientific by 8.4% in the 2nd quarter. Profund Advisors LLC now owns 60,738 shares of the medical equipment provider’s stock valued at $1,684,000 after acquiring an additional 4,694 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Boston Scientific by 6.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 68,419 shares of the medical equipment provider’s stock valued at $1,898,000 after acquiring an additional 3,912 shares during the period. Finally, Thrivent Financial For Lutherans grew its position in shares of Boston Scientific by 2.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 51,470 shares of the medical equipment provider’s stock valued at $1,427,000 after acquiring an additional 1,430 shares during the period. 90.51% of the stock is owned by institutional investors.
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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