Shares of Boston Scientific Corporation (NYSE:BSX) have been assigned an average rating of “Buy” from the twenty-one brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $30.91.
A number of research analysts recently weighed in on BSX shares. BMO Capital Markets increased their price objective on shares of Boston Scientific from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective on shares of Boston Scientific in a research report on Monday, September 25th. SunTrust Banks set a $33.00 price objective on shares of Boston Scientific and gave the company a “buy” rating in a research report on Monday, December 4th. Zacks Investment Research upgraded shares of Boston Scientific from a “sell” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Friday, October 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of Boston Scientific in a research report on Tuesday, October 3rd.
Shares of Boston Scientific (NYSE:BSX) traded up $0.06 during trading on Friday, reaching $27.71. 7,970,000 shares of the company were exchanged, compared to its average volume of 9,530,000. The company has a market capitalization of $38,050.00, a P/E ratio of 45.43, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96. Boston Scientific has a 12 month low of $23.29 and a 12 month high of $29.93. The company has a current ratio of 0.72, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.31. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.21 billion. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 earnings per share. equities research analysts predict that Boston Scientific will post 1.25 earnings per share for the current fiscal year.
In other Boston Scientific news, EVP Michael P. Phalen sold 15,835 shares of the stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $25.25, for a total value of $399,833.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy A. Pratt sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $28.22, for a total transaction of $282,200.00. Following the sale, the executive vice president now owns 164,681 shares in the company, valued at $4,647,297.82. The disclosure for this sale can be found here. Insiders sold 96,585 shares of company stock worth $2,578,197 over the last quarter. Insiders own 0.74% of the company’s stock.
Several hedge funds have recently made changes to their positions in BSX. AJO LP bought a new stake in shares of Boston Scientific during the 2nd quarter valued at $783,000. Ameriprise Financial Inc. raised its position in shares of Boston Scientific by 25.5% during 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 purchasing an additional 387,611 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Boston Scientific by 6.1% during 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 purchasing an additional 3,912 shares during the period. Thrivent Financial For Lutherans raised its position in shares of Boston Scientific by 2.9% during 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 purchasing an additional 1,430 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in shares of Boston Scientific by 4.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,603,132 shares of the medical equipment provider’s stock valued at $99,879,000 after purchasing an additional 167,326 shares during the period. Hedge funds and other institutional investors own 90.42% of the company’s stock.
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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