Boston Scientific Corp. Stock Rating Upgraded by TheStreet (BSX)
Boston Scientific Corp. (NYSE:BSX) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a report issued on Tuesday, Stock Ratings Network.com reports.
The analysts wrote, “Boston Scientific (BSX) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its compelling growth in net income, solid stock price performance, expanding profit margins, impressive record of earnings per share growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow.”
Shares of Boston Scientific Corp. (NYSE:BSX) traded down 4.52% during mid-day trading on Tuesday, hitting $10.77. The stock had a trading volume of 10,557,254 shares. Boston Scientific Corp. has a 52 week low of $5.04 and a 52 week high of $11.49. The stock’s 50-day moving average is $10.54 and its 200-day moving average is $8.78. The company’s market cap is $14.463 billion.
Boston Scientific Corp. (NYSE:BSX) last announced its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.08. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts predict that Boston Scientific Corp. will post $0.44 earnings per share for the current fiscal year.
BSX has been the subject of a number of other recent research reports. Analysts at Barclays Capital reiterated an “overweight” rating on shares of Boston Scientific Corp. in a research note to investors on Wednesday, August 14th. They now have a $12.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Boston Scientific Corp. in a research note to investors on Wednesday, July 31st. They now have a $11.00 price target on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Boston Scientific Corp. from $8.00 to $10.00 in a research note to investors on Friday, July 26th. They now have a “market perform” rating on the stock.
Fifteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $9.49.
In other Boston Scientific Corp. news, SVP Joseph Michael Fitzgerald sold 9,202 shares of Boston Scientific Corp. stock on the open market in a transaction dated Friday, August 16th. The stock was sold at an average price of $11.02, for a total transaction of $101,406.04. Following the completion of the sale, the senior vice president now directly owns 93,191 shares in the company. The sale was disclosed in a document filed with the SEC, which is available at this link.
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.