Boston Scientific Corporation (NYSE:BSX)‘s stock had its “outperform” rating reissued by equities researchers at Wells Fargo & Company in a research report issued to clients and investors on Friday. They currently have a $31.00 price target on the medical equipment provider’s stock, up from their prior price target of $29.50. Wells Fargo & Company’s target price would indicate a potential upside of 9.73% from the company’s current price.

Several other research firms have also recently commented on BSX. Northland Securities reissued a “positive” rating on shares of Boston Scientific Corporation in a research report on Thursday, February 23rd. Needham & Company LLC reissued a “buy” rating and set a $29.00 target price on shares of Boston Scientific Corporation in a research report on Thursday, February 23rd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Boston Scientific Corporation in a research report on Thursday, February 23rd. TheStreet cut shares of Boston Scientific Corporation from a “b” rating to a “c+” rating in a research report on Thursday, March 16th. Finally, Zacks Investment Research cut shares of Boston Scientific Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Boston Scientific Corporation has a consensus rating of “Buy” and an average target price of $28.41.

Analyst Recommendations for Boston Scientific Corporation (NYSE:BSX)

Boston Scientific Corporation (BSX) opened at 28.25 on Friday. The firm has a market cap of $38.69 billion, a P/E ratio of 90.54 and a beta of 1.05. Boston Scientific Corporation has a 12 month low of $19.67 and a 12 month high of $28.51. The firm’s 50-day moving average price is $27.03 and its 200-day moving average price is $24.66.

Boston Scientific Corporation (NYSE:BSX) last announced its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Boston Scientific Corporation had a net margin of 5.07% and a return on equity of 23.45%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the business posted $0.28 EPS. Boston Scientific Corporation’s revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that Boston Scientific Corporation will post $1.25 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.dailypolitical.com/2017/06/20/wells-fargo-company-reiterates-outperform-rating-for-boston-scientific-corporation-bsx.html.

In related news, SVP John Bradley Sorenson sold 2,950 shares of Boston Scientific Corporation stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $24.66, for a total value of $72,747.00. Following the completion of the transaction, the senior vice president now directly owns 20,980 shares in the company, valued at approximately $517,366.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David A. Pierce sold 10,250 shares of Boston Scientific Corporation stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $26.00, for a total transaction of $266,500.00. Following the completion of the transaction, the senior vice president now owns 35,850 shares of the company’s stock, valued at $932,100. The disclosure for this sale can be found here. Insiders sold a total of 217,916 shares of company stock valued at $5,606,540 over the last quarter. 0.74% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in Boston Scientific Corporation by 7.6% in the first quarter. FMR LLC now owns 184,708,390 shares of the medical equipment provider’s stock worth $4,593,698,000 after buying an additional 13,105,596 shares in the last quarter. BlackRock Inc. raised its position in Boston Scientific Corporation by 2,181.6% in the first quarter. BlackRock Inc. now owns 95,744,545 shares of the medical equipment provider’s stock worth $2,381,169,000 after buying an additional 91,548,235 shares in the last quarter. Vanguard Group Inc. raised its position in Boston Scientific Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 91,134,744 shares of the medical equipment provider’s stock worth $2,266,521,000 after buying an additional 3,503,965 shares in the last quarter. Janus Capital Management LLC raised its position in Boston Scientific Corporation by 17.8% in the fourth quarter. Janus Capital Management LLC now owns 41,575,011 shares of the medical equipment provider’s stock worth $899,562,000 after buying an additional 6,289,196 shares in the last quarter. Finally, Norges Bank acquired a new position in Boston Scientific Corporation during the fourth quarter worth $301,774,000. Institutional investors and hedge funds own 92.04% of the company’s stock.

About Boston Scientific Corporation

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.

Receive News & Ratings for Boston Scientific Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific Corporation and related companies with MarketBeat.com's FREE daily email newsletter.