Royal Bank Of Canada restated their buy rating on shares of Boston Scientific Corporation (NYSE:BSX) in a report published on Tuesday, November 7th. They currently have a $31.00 target price on the medical equipment provider’s stock.
BSX has been the subject of several other research reports. BidaskClub lowered Boston Scientific Corporation from a hold rating to a sell rating in a report on Saturday, August 26th. BMO Capital Markets lifted their price objective on Boston Scientific Corporation from $30.00 to $32.00 and gave the stock an outperform rating in a report on Friday, October 27th. Stifel Nicolaus reaffirmed a buy rating and issued a $32.00 price objective on shares of Boston Scientific Corporation in a report on Monday, September 25th. Oppenheimer Holdings, Inc. set a $29.00 price objective on Boston Scientific Corporation and gave the stock a hold rating in a report on Friday, July 28th. Finally, Zacks Investment Research raised Boston Scientific Corporation 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $30.77.
Boston Scientific Corporation (NYSE BSX) opened at $28.26 on Tuesday. Boston Scientific Corporation has a one year low of $19.67 and a one year high of $29.93. The company has a quick ratio of 0.50, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $38,810.00, a price-to-earnings ratio of 23.16, a PEG ratio of 2.18 and a beta of 0.99.
Boston Scientific Corporation (NYSE:BSX) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Boston Scientific Corporation had a return on equity of 23.60% and a net margin of 9.55%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. research analysts expect that Boston Scientific Corporation will post 1.25 EPS for the current fiscal year.
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In other Boston Scientific Corporation news, EVP Michael P. Phalen sold 15,500 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $28.42, for a total transaction of $440,510.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Pratt sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $28.22, for a total value of $282,200.00. Following the sale, the executive vice president now owns 164,681 shares in the company, valued at $4,647,297.82. The disclosure for this sale can be found here. Insiders sold 508,864 shares of company stock worth $14,581,669 over the last quarter. 0.74% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Capital World Investors raised its position in Boston Scientific Corporation by 1.6% during the second quarter. Capital World Investors now owns 101,914,290 shares of the medical equipment provider’s stock valued at $2,825,064,000 after purchasing an additional 1,611,442 shares during the period. BlackRock Inc. raised its position in Boston Scientific Corporation by 4.6% during the second quarter. BlackRock Inc. now owns 100,184,511 shares of the medical equipment provider’s stock valued at $2,777,113,000 after purchasing an additional 4,439,966 shares during the period. Vanguard Group Inc. raised its position in Boston Scientific Corporation by 2.8% during the second quarter. Vanguard Group Inc. now owns 93,657,300 shares of the medical equipment provider’s stock valued at $2,596,181,000 after purchasing an additional 2,522,556 shares during the period. Janus Henderson Group PLC raised its position in Boston Scientific Corporation by 22,491.6% during the second quarter. Janus Henderson Group PLC now owns 38,862,599 shares of the medical equipment provider’s stock valued at $1,077,270,000 after purchasing an additional 38,690,577 shares during the period. Finally, Winslow Capital Management LLC raised its position in Boston Scientific Corporation by 21.9% during the second quarter. Winslow Capital Management LLC now owns 11,212,783 shares of the medical equipment provider’s stock valued at $310,818,000 after purchasing an additional 2,011,640 shares during the period. Institutional investors and hedge funds own 90.68% 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.
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