Boston Scientific (BSX) Stock Rating Upgraded by Needham & Company LLC
Boston Scientific (NYSE:BSX) was upgraded by stock analysts at Needham & Company LLC from a “buy” rating to a “strong-buy” rating in a research report issued on Friday. The brokerage currently has a $32.00 price target on the medical equipment provider’s stock, up from their prior price target of $25.04. Needham & Company LLC’s target price would indicate a potential upside of 24.18% from the stock’s previous close.
Several other brokerages also recently issued reports on BSX. Canaccord Genuity began coverage on Boston Scientific in a report on Tuesday, October 24th. They set a “buy” rating and a $36.00 price target for the company. Zacks Investment Research raised Boston Scientific from a “sell” rating to a “buy” rating and set a $33.00 price target for the company in a report on Friday, October 20th. BMO Capital Markets reaffirmed a “buy” rating and set a $30.00 price target on shares of Boston Scientific in a report on Friday, October 13th. SunTrust Banks reaffirmed a “buy” rating and set a $34.00 price target on shares of Boston Scientific in a report on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price target on shares of Boston Scientific in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Boston Scientific presently has a consensus rating of “Buy” and a consensus target price of $30.97.
Shares of Boston Scientific (NYSE:BSX) opened at $25.77 on Friday. Boston Scientific has a twelve month low of $20.69 and a twelve month high of $29.93. The stock has a market capitalization of $35,387.26, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 1.99 and a beta of 0.96. 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 announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. Boston Scientific had a return on equity of 23.60% and a net margin of 9.55%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the firm posted $0.27 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. equities research analysts expect that Boston Scientific will post 1.25 earnings per share for the current fiscal year.
In other news, insider Valley Gold Master Fund L. Sun bought 408,006 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was bought at an average price of $0.45 per share, with a total value of $183,602.70. Also, EVP Timothy A. Pratt sold 10,000 shares of Boston Scientific stock in a transaction on Friday, December 1st. The stock was sold at an average price of $26.04, for a total value of $260,400.00. Following the sale, the executive vice president now directly owns 154,681 shares of the company’s stock, valued at approximately $4,027,893.24. The disclosure for this sale can be found here. Insiders have sold 424,698 shares of company stock valued at $12,273,553 in the last three months. Insiders own 0.74% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC bought a new position in shares of Boston Scientific in the third quarter worth $138,000. Steward Partners Investment Advisory LLC bought a new position in shares of Boston Scientific in the third quarter worth $139,000. Acrospire Investment Management LLC increased its position in shares of Boston Scientific by 157.3% in the second quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock worth $141,000 after purchasing an additional 3,100 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in shares of Boston Scientific by 14.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,761 shares of the medical equipment provider’s stock worth $160,000 after purchasing an additional 720 shares during the period. Finally, San Francisco Sentry Investment Group CA bought a new position in shares of Boston Scientific in the second quarter worth $191,000. Institutional investors own 90.57% of the company’s stock.
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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