Boston Scientific Corp. Rating Increased to Overweight at Morgan Stanley (BSX)
Boston Scientific Corp. (NYSE:BSX) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Stock Ratings Network.com reports. The firm currently has a $15.00 target price on the stock. Morgan Stanley’s price target points to a potential upside of 25.73% from the company’s current price.
The analysts wrote, “At 19%, cash operating margins are depressed relative to peers. In particular, CRM margins of 12-13% are half those of competitors; normalizing CRM profitability alone could drive 15%+ upside to EPS over several years. Structural cost programs have done an impressive job of supporting the P&L during a multi-year contraction in revenue, but margin results should accelerate in a more visible way as revenue growth rates push into the mid single digits and drive much better leverage over a fully-loaded expense structure.”
In other Boston Scientific Corp. news, Director Ernest Mario sold 10,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $12.06, for a total transaction of $120,600.00. Following the transaction, the director now directly owns 384,959 shares of the company’s stock, valued at approximately $4,642,606. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on BSX. Analysts at TheStreet downgraded shares of Boston Scientific Corp. from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, December 17th. Separately, analysts at Cowen and Company upgraded shares of Boston Scientific Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, December 6th. Finally, analysts at Benchmark Co. initiated coverage on shares of Boston Scientific Corp. in a research note to investors on Thursday, December 5th. They set a “hold” rating and a $12.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Boston Scientific Corp. currently has a consensus rating of “Hold” and an average target price of $10.92.
Boston Scientific Corp. (NYSE:BSX) last announced its earnings results on Thursday, October 24th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.09 by $0.08. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis.
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties.
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