Boston Scientific Corporation (NYSE:BSX) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also recently issued reports on BSX. Zacks Investment Research cut shares of Boston Scientific Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. BMO Capital Markets reiterated a “buy” rating and set a $30.00 price target on shares of Boston Scientific Corporation in a research report on Wednesday, June 21st. Royal Bank Of Canada reiterated an “ourperform” rating and set a $29.00 price target (down previously from $31.00) on shares of Boston Scientific Corporation in a research report on Friday, June 9th. Needham & Company LLC boosted their price target on shares of Boston Scientific Corporation from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, June 22nd. Finally, Barclays PLC boosted their price target on shares of Boston Scientific Corporation from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, June 28th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $30.06.

Shares of Boston Scientific Corporation (NYSE BSX) traded up 0.94% during mid-day trading on Friday, reaching $26.89. 5,850,175 shares of the company’s stock were exchanged. Boston Scientific Corporation has a one year low of $19.67 and a one year high of $28.51. The company has a 50 day moving average price of $27.16 and a 200-day moving average price of $26.15. The stock has a market cap of $36.90 billion, a PE ratio of 48.10 and a beta of 1.09.

Boston Scientific Corporation (NYSE:BSX) last announced its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Boston Scientific Corporation had a net margin of 9.04% and a return on equity of 23.62%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the company earned $0.27 earnings per share. Boston Scientific Corporation’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts predict that Boston Scientific Corporation will post $1.26 EPS for the current year.

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In other news, CFO Daniel J. Brennan sold 92,158 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $27.48, for a total value of $2,532,501.84. Following the transaction, the chief financial officer now owns 235,421 shares in the company, valued at $6,469,369.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John Bradley Sorenson sold 7,900 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $26.37, for a total transaction of $208,323.00. Following the completion of the transaction, the senior vice president now owns 21,680 shares in the company, valued at approximately $571,701.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 207,625 shares of company stock worth $5,686,383. Insiders own 0.74% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. WFG Advisors LP increased its position in shares of Boston Scientific Corporation by 17.3% in the second quarter. WFG Advisors LP now owns 157,919 shares of the medical equipment provider’s stock valued at $4,378,000 after buying an additional 23,305 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Boston Scientific Corporation by 26.1% in the second quarter. Toronto Dominion Bank now owns 463,826 shares of the medical equipment provider’s stock valued at $12,854,000 after buying an additional 95,902 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Boston Scientific Corporation by 80.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 16,800 shares of the medical equipment provider’s stock valued at $466,000 after buying an additional 7,507 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Boston Scientific Corporation by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 991,450 shares of the medical equipment provider’s stock valued at $27,483,000 after buying an additional 10,263 shares in the last quarter. Finally, Koch Industries Inc. increased its position in shares of Boston Scientific Corporation by 7,722.1% in the second quarter. Koch Industries Inc. now owns 964,072 shares of the medical equipment provider’s stock valued at $931,000 after buying an additional 951,747 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Boston Scientific Corporation 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 businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

Analyst Recommendations for Boston Scientific Corporation (NYSE:BSX)

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