Boston Scientific Corp. (BSX) Stock Rating Reaffirmed by Royal Bank Of Canada
Boston Scientific Corp. (NYSE:BSX)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday. They presently have a $28.00 price objective on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 20.95% from the company’s previous close.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Boston Scientific Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. Citigroup Inc. boosted their price target on Boston Scientific Corp. from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Credit Suisse Group AG reissued a “buy” rating on shares of Boston Scientific Corp. in a report on Friday, July 29th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $26.00 target price on shares of Boston Scientific Corp. in a research note on Tuesday, June 21st. Finally, Argus raised Boston Scientific Corp. from a “hold” rating to a “buy” rating and upped their target price for the stock from $23.82 to $33.00 in a research note on Thursday, September 1st. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $25.19.
Boston Scientific Corp. (NYSE:BSX) opened at 23.15 on Friday. Boston Scientific Corp. has a 12-month low of $15.67 and a 12-month high of $24.79. The company has a 50 day moving average of $23.70 and a 200-day moving average of $22.67. The stock’s market capitalization is $31.50 billion.
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Boston Scientific Corp. (NYSE:BSX) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. Boston Scientific Corp. had a positive return on equity of 22.66% and a negative net margin of 4.34%. The company earned $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the company posted $0.22 earnings per share. Boston Scientific Corp.’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts forecast that Boston Scientific Corp. will post ($0.02) earnings per share for the current year.
In other Boston Scientific Corp. news, EVP Timothy A. Pratt sold 24,000 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $24.46, for a total value of $587,040.00. Following the sale, the executive vice president now owns 287,495 shares of the company’s stock, valued at approximately $7,032,127.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David A. Pierce sold 2,480 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 $59,594.40. Following the completion of the sale, the senior vice president now directly owns 28,080 shares in the company, valued at approximately $674,762.40. The disclosure for this sale can be found here. Corporate insiders own 1.31% of the company’s stock.
A number of large investors have recently bought and sold shares of BSX. Wellington Management Group LLP raised its stake in Boston Scientific Corp. by 9.1% in the first quarter. Wellington Management Group LLP now owns 103,378,526 shares of the company’s stock worth $1,944,549,000 after buying an additional 8,643,058 shares in the last quarter. State Street Corp raised its stake in Boston Scientific Corp. by 0.5% in the second quarter. State Street Corp now owns 51,674,947 shares of the company’s stock worth $1,207,652,000 after buying an additional 248,594 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Boston Scientific Corp. by 116.4% in the second quarter. JPMorgan Chase & Co. now owns 45,873,864 shares of the company’s stock worth $1,072,070,000 after buying an additional 24,672,937 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Boston Scientific Corp. by 1.1% in the second quarter. Artisan Partners Limited Partnership now owns 41,479,994 shares of the company’s stock worth $969,387,000 after buying an additional 434,740 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Boston Scientific Corp. by 2.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 35,112,125 shares of the company’s stock worth $820,570,000 after buying an additional 990,857 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.
About Boston Scientific Corp.
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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