Boston Scientific Corp. (NYSE:BSX) Receives Average Rating of “Buy” from Analysts
Boston Scientific Corp. (NYSE:BSX) has been assigned a consensus rating of “Buy” from the twenty-eight research firms that are currently covering the company. Five research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $25.23.
BSX has been the subject of a number of research analyst reports. TheStreet downgraded Boston Scientific Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Leerink Swann reaffirmed a “buy” rating on shares of Boston Scientific Corp. in a research report on Friday, July 29th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $26.00 price target on shares of Boston Scientific Corp. in a research report on Tuesday, June 21st. Zacks Investment Research downgraded Boston Scientific Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Finally, Wedbush increased their price target on Boston Scientific Corp. from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 29th.
Boston Scientific Corp. (NYSE:BSX) traded down 0.064% during mid-day trading on Friday, hitting $23.465. The stock had a trading volume of 2,206,876 shares. The company’s market cap is $31.93 billion. The firm’s 50-day moving average is $23.79 and its 200 day moving average is $22.51. Boston Scientific Corp. has a 12 month low of $15.67 and a 12 month high of $24.79.
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Boston Scientific Corp. (NYSE:BSX) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.27 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.27. The company earned $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. Boston Scientific Corp. had a positive return on equity of 22.66% and a negative net margin of 4.34%. Boston Scientific Corp.’s revenue was up 15.4% on a year-over-year basis. During the same period last year, the business posted $0.22 earnings per share. Equities analysts anticipate that Boston Scientific Corp. will post ($0.02) EPS for the current fiscal year.
In other news, EVP Michael P. Phalen sold 35,000 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $24.03, for a total value of $841,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Bradley Sorenson sold 2,500 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $23.90, for a total transaction of $59,750.00. Following the completion of the transaction, the senior vice president now owns 12,615 shares of the company’s stock, valued at approximately $301,498.50. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Global X Management Co. LLC increased its position in shares of Boston Scientific Corp. by 91.8% in the second quarter. Global X Management Co. LLC now owns 4,683 shares of the company’s stock worth $109,000 after buying an additional 2,242 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Boston Scientific Corp. by 1.7% in the second quarter. Quadrant Capital Group LLC now owns 4,844 shares of the company’s stock worth $105,000 after buying an additional 83 shares in the last quarter. Advisors Asset Management Inc. bought a new position in shares of Boston Scientific Corp. during the second quarter worth about $144,000. IFP Advisors Inc increased its position in shares of Boston Scientific Corp. by 55.5% in the first quarter. IFP Advisors Inc now owns 6,242 shares of the company’s stock worth $117,000 after buying an additional 2,228 shares in the last quarter. Finally, Acrospire Investment Management LLC increased its position in shares of Boston Scientific Corp. by 150.0% in the second quarter. Acrospire Investment Management LLC now owns 6,500 shares of the company’s stock worth $152,000 after buying an additional 3,900 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.
Boston Scientific Corp. Company Profile
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven core businesses: Interventional Cardiology, Peripheral Interventions (PI), Cardiac Rhythm Management (CRM), Electrophysiology (EP), Endoscopy, Urology and Pelvic Health, and Neuromodulation.
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