Boston Scientific Receives “BBB-” Credit Rating (BSX)
Boston Scientific (NYSE:BSX) has received a “BBB-” credit rating from analysts at Morningstar. The agency’s “BBB-” rating suggests that the company is a moderate default risk. They also issued a negative credit outlook for the company and gave their stock a two star rating.
A number of other analysts have also recently weighed in on BSX. Analysts at Zacks reiterated a “neutral” rating on shares of Boston Scientific in a research note on Wednesday, August 13th. They now have a $13.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Boston Scientific in a research note on Thursday, August 7th. They now have a $14.50 price target on the stock, down previously from $16.00. Finally, analysts at Sterne Agee initiated coverage on shares of Boston Scientific in a research note on Tuesday, July 29th. They set a “neutral” rating and a $13.50 price target on the stock. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.88.
Shares of Boston Scientific (NYSE:BSX) opened at 12.44 on Thursday. Boston Scientific has a 52-week low of $10.95 and a 52-week high of $14.08. The stock has a 50-day moving average of $12.65 and a 200-day moving average of $12.95. The company has a market cap of $16.492 billion and a P/E ratio of 69.56. Boston Scientific also saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 38,636,682 shares, a growth of 38.5% from the July 31st total of 27,894,774 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average trading volume of 9,493,507 shares, the days-to-cover ratio is presently 4.1 days.
Boston Scientific (NYSE:BSX) last released its earnings data on Thursday, July 24th. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue 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, Director Ernest Mario sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $12.60, for a total value of $126,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
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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