Jefferies Group LLC Reaffirms Hold Rating for Boston Scientific Corporation (BSX)

Jefferies Group LLC reissued their hold rating on shares of Boston Scientific Corporation (NYSE:BSX) in a report released on Thursday morning.

“We are re-establishing estimates, a Buy rating and $14.00 PT for Flex Pharma. Flex is developing FLX-787, an innovative anti-cramp drug in amyotrophic lateral sclerosis (ALS), Charcot-Marie-Tooth disease (CMT) and multiple sclerosis (MS). We believe CMT , on which we base our PT , has the highest chance of success. We anticipate Ph2 data in 1Q’18 (MS) and 3Q’18 (ALS, CMT). In 2Q’16, Flex launched HOTSHOT , a consumer beverage for exercise- associated muscle cramps that works via the same mechanisms as FLX-787.”,” the firm’s analyst commented.

Other equities analysts have also issued reports about the company. Needham & Company LLC raised their price target on Boston Scientific Corporation from $30.00 to $32.00 and gave the stock a buy rating in a report on Thursday, June 22nd. BMO Capital Markets reaffirmed a buy rating and issued a $30.00 price target on shares of Boston Scientific Corporation in a report on Wednesday, June 21st. Zacks Investment Research raised Boston Scientific Corporation from a hold rating to a buy rating and set a $31.00 price target for the company in a report on Wednesday, June 28th. BidaskClub lowered Boston Scientific Corporation from a strong-buy rating to a buy rating in a report on Thursday, July 6th. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $31.00 price target on shares of Boston Scientific Corporation in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Boston Scientific Corporation presently has an average rating of Buy and a consensus target price of $29.88.

Boston Scientific Corporation (NYSE BSX) opened at 28.79 on Thursday. The firm has a 50-day moving average price of $27.06 and a 200 day moving average price of $26.38. Boston Scientific Corporation has a one year low of $19.67 and a one year high of $29.08. The firm has a market capitalization of $39.50 billion, a PE ratio of 51.50 and a beta of 1.09.

Boston Scientific Corporation (NYSE:BSX) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the company earned $0.27 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts anticipate that Boston Scientific Corporation will post $1.26 EPS for the current fiscal year.

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In other Boston Scientific Corporation news, SVP Wendy Carruthers sold 12,433 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $26.75, for a total transaction of $332,582.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP John Bradley Sorenson sold 2,100 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $27.15, for a total value of $57,015.00. Following the sale, the senior vice president now owns 18,880 shares in the company, valued at approximately $512,592. The disclosure for this sale can be found here. Insiders have sold 275,257 shares of company stock worth $7,512,394 in the last 90 days. Company insiders own 0.74% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. BB&T Corp raised its position in Boston Scientific Corporation by 28.9% during the first quarter. BB&T Corp now owns 12,577 shares of the medical equipment provider’s stock valued at $313,000 after purchasing an additional 2,817 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Boston Scientific Corporation by 39.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 31,506 shares of the medical equipment provider’s stock worth $784,000 after buying an additional 8,939 shares during the period. Xact Kapitalforvaltning AB increased its holdings in shares of Boston Scientific Corporation by 5.6% in the first quarter. Xact Kapitalforvaltning AB now owns 221,571 shares of the medical equipment provider’s stock worth $5,510,000 after buying an additional 11,808 shares during the period. Pictet Asset Management Ltd. increased its holdings in shares of Boston Scientific Corporation by 1.6% in the first quarter. Pictet Asset Management Ltd. now owns 1,219,677 shares of the medical equipment provider’s stock worth $30,333,000 after buying an additional 18,900 shares during the period. Finally, LS Investment Advisors LLC increased its holdings in shares of Boston Scientific Corporation by 14.0% in the first quarter. LS Investment Advisors LLC now owns 38,847 shares of the medical equipment provider’s stock worth $966,000 after buying an additional 4,763 shares during the period. Institutional investors and hedge funds own 90.52% 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.

Analyst Recommendations for Boston Scientific Corporation (NYSE:BSX)

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