Boston Scientific Receives Consensus Recommendation of “Buy” from Analysts (NYSE:BSX)
Boston Scientific (NYSE:BSX) has been given a consensus recommendation of “Buy” by the twenty-one brokerages that are covering the company, ARN reports. Eight research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $13.99.
Several analysts have recently commented on the stock. 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.
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 shares were sold at an average price of $12.60, for a total value of $126,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Boston Scientific (NYSE:BSX) traded down 0.25% during mid-day trading on Friday, hitting $12.21. The stock had a trading volume of 420,212 shares. Boston Scientific has a 52 week low of $11.12 and a 52 week high of $14.08. The stock has a 50-day moving average of $12.63 and a 200-day moving average of $12.95. The company has a market cap of $16.187 billion and a P/E ratio of 67.62. Boston Scientific also saw a significant increase in short interest in August. As of August 15th, there was short interest totalling 38,636,682 shares, an increase of 38.5% from the July 31st total of 27,894,774 shares. Based on an average daily trading volume, of 9,493,507 shares, the short-interest ratio is currently 4.1 days. Currently, 2.9% of the shares of the stock are short sold.
Boston Scientific (NYSE:BSX) last announced its 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. On average, analysts predict that Boston Scientific will post $0.82 earnings per share for the current fiscal year.
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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