Boston Scientific Coverage Initiated at Sterne Agee (BSX)
Equities research analysts at Sterne Agee assumed coverage on shares of Boston Scientific (NYSE:BSX) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $13.50 price target on the stock. Sterne Agee’s price objective would suggest a potential upside of 4.09% from the stock’s previous close. The analysts noted that the move was a valuation call.
Boston Scientific (NYSE:BSX) traded up 0.23% during mid-day trading on Tuesday, hitting $13.00. The stock had a trading volume of 2,321,409 shares. Boston Scientific has a 52 week low of $10.54 and a 52 week high of $14.08. The stock has a 50-day moving average of $12.8 and a 200-day moving average of $13.. The company has a market cap of $17.209 billion and a P/E ratio of 71.66. Boston Scientific also was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 28,649,716 shares, a growth of 9.8% from the June 30th total of 26,103,264 shares. Based on an average daily trading volume, of 9,149,265 shares, the days-to-cover ratio is presently 3.1 days. Approximately 2.2% of the shares of the stock are sold short.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.01. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts expect that Boston Scientific will post $0.82 EPS for the current fiscal year.
In other Boston Scientific news, EVP Michael P. Phalen sold 67,500 shares of the company’s stock on the open market in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $13.04, for a total value of $880,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Boston Scientific in a research note on Friday. They now have a $16.00 price target on the stock, up previously from $14.00. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Boston Scientific in a research note on Friday. They now have a $15.00 price target on the stock, up previously from $14.00. Finally, analysts at CRT Capital initiated coverage on shares of Boston Scientific in a research note on Monday, July 7th. They set a “buy” rating and a $16.00 price target on the stock. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Boston Scientific presently has an average rating of “Buy” and an average price target of $14.41.
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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