Shares of Boston Scientific Co. (NYSE:BSX) have been given a consensus rating of “Buy” by the twenty-two analysts that are covering the stock. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $28.33.
Several analysts have recently commented on the stock. Cowen and Company lifted their price target on shares of Boston Scientific from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Stifel Nicolaus lifted their price target on shares of Boston Scientific from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Evercore ISI lifted their price target on shares of Boston Scientific from $26.50 to $28.50 and gave the company an “outperform” rating in a research report on Friday, April 28th. Goldman Sachs Group Inc assumed coverage on shares of Boston Scientific in a research report on Tuesday. They set a “neutral” rating and a $28.00 price target on the stock. Finally, TheStreet raised shares of Boston Scientific from a “c+” rating to a “b” rating in a research report on Tuesday, April 25th.
In related news, EVP Michael P. Phalen sold 79,045 shares of the business’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $24.55, for a total transaction of $1,940,554.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin J. Ballinger sold 28,864 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $26.14, for a total transaction of $754,504.96. The disclosure for this sale can be found here. Insiders have sold 232,683 shares of company stock worth $5,869,995 in the last ninety days. Corporate insiders own 1.31% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Boston Scientific by 14.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 613,289 shares of the medical equipment provider’s stock worth $14,596,000 after buying an additional 75,768 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Boston Scientific during the third quarter worth approximately $9,577,000. Synovus Financial Corp purchased a new position in shares of Boston Scientific during the third quarter worth approximately $102,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Boston Scientific by 16.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 157,099 shares of the medical equipment provider’s stock worth $3,739,000 after buying an additional 21,814 shares during the last quarter. Finally, Tredje AP fonden increased its position in shares of Boston Scientific by 3.3% in the fourth quarter. Tredje AP fonden now owns 154,272 shares of the medical equipment provider’s stock worth $3,337,000 after buying an additional 4,996 shares during the last quarter. Hedge funds and other institutional investors own 91.70% of the company’s stock.
Shares of Boston Scientific (NYSE:BSX) opened at 26.41 on Monday. Boston Scientific has a 12-month low of $19.67 and a 12-month high of $26.76. The firm has a 50 day moving average price of $25.58 and a 200 day moving average price of $23.71. The stock has a market cap of $36.17 billion, a PE ratio of 84.65 and a beta of 1.06.
Boston Scientific (NYSE:BSX) last issued its 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. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.08 billion. Boston Scientific had a return on equity of 23.70% and a net margin of 4.14%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. On average, equities analysts expect that Boston Scientific will post $1.25 EPS for the current year.
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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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