Boston Scientific (BSX) Upgraded by BTIG Research to “Buy”
BTIG Research upgraded shares of Boston Scientific (NYSE:BSX) from a neutral rating to a buy rating in a research report report published on Thursday morning. They currently have $31.00 target price on the medical equipment provider’s stock.
A number of other equities analysts have also commented on the stock. Canaccord Genuity cut their price target on shares of Boston Scientific from $36.00 to $35.00 and set a buy rating on the stock in a report on Wednesday. Jefferies Group reiterated a hold rating on shares of Boston Scientific in a report on Thursday, September 7th. BMO Capital Markets reiterated a buy rating and set a $30.00 price target on shares of Boston Scientific in a report on Friday, October 13th. J P Morgan Chase & Co reiterated a buy rating on shares of Boston Scientific in a report on Wednesday. Finally, Zacks Investment Research lowered shares of Boston Scientific from a hold rating to a sell rating in a report on Monday, October 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $30.61.
Boston Scientific (NYSE BSX) traded down $0.13 during midday trading on Thursday, hitting $26.15. 16,183,181 shares of the company’s stock were exchanged, compared to its average volume of 6,852,641. The company has a market capitalization of $35,910.00, a PE ratio of 21.63, a PEG ratio of 2.04 and a beta of 0.99. Boston Scientific has a 12-month low of $20.03 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 posted its earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. analysts expect that Boston Scientific will post 1.25 EPS for the current year.
In related news, EVP Michael P. Phalen sold 15,500 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $28.72, for a total value of $445,160.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy A. Pratt sold 11,061 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $29.24, for a total transaction of $323,423.64. Following the completion of the transaction, the executive vice president now owns 174,681 shares in the company, valued at approximately $5,107,672.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 414,698 shares of company stock worth $12,013,153. 0.74% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank increased its stake in Boston Scientific by 2.9% in the second quarter. Swiss National Bank now owns 5,584,930 shares of the medical equipment provider’s stock valued at $154,814,000 after purchasing an additional 156,800 shares in the last quarter. Wells Fargo & Company MN increased its stake in Boston Scientific by 10.5% in the second quarter. Wells Fargo & Company MN now owns 9,157,768 shares of the medical equipment provider’s stock valued at $253,854,000 after purchasing an additional 867,983 shares in the last quarter. Sit Investment Associates Inc. increased its stake in Boston Scientific by 37.8% in the third quarter. Sit Investment Associates Inc. now owns 141,710 shares of the medical equipment provider’s stock valued at $4,134,000 after purchasing an additional 38,855 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Boston Scientific by 35,016.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,042,464 shares of the medical equipment provider’s stock valued at $84,337,000 after purchasing an additional 3,033,800 shares in the last quarter. Finally, Greenwood Capital Associates LLC increased its stake in Boston Scientific by 71.7% in the third quarter. Greenwood Capital Associates LLC now owns 91,579 shares of the medical equipment provider’s stock valued at $2,671,000 after purchasing an additional 38,249 shares in the last quarter. Institutional investors and hedge funds own 90.55% of the company’s stock.
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Boston Scientific Company Profile
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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