Boston Scientific (BSX) Receives Buy Rating from BMO Capital Markets
Boston Scientific (NYSE:BSX)‘s stock had its “buy” rating restated by investment analysts at BMO Capital Markets in a research note issued on Tuesday. They currently have a $32.00 price target on the medical equipment provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 24.95% from the stock’s current price.
BSX has been the subject of a number of other reports. BidaskClub cut shares of Boston Scientific from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 target price on shares of Boston Scientific in a report on Monday, September 25th. SunTrust Banks set a $33.00 target price on shares of Boston Scientific and gave the company a “buy” rating in a report on Monday, December 4th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $31.00 target price on shares of Boston Scientific in a report on Friday, September 1st. Finally, Zacks Investment Research raised shares of Boston Scientific from a “sell” rating to a “buy” rating and set a $33.00 target price for the company in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Boston Scientific presently has a consensus rating of “Buy” and a consensus price target of $31.03.
Boston Scientific (NYSE:BSX) traded up $0.11 during trading on Tuesday, hitting $25.61. 11,201,624 shares of the stock traded hands, compared to its average volume of 7,036,955. Boston Scientific has a 1-year low of $21.03 and a 1-year high of $29.93. The stock has a market cap of $35,387.26, a PE ratio of 21.12, a P/E/G ratio of 1.99 and a beta of 0.96. The company has a current ratio of 0.72, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58.
In other Boston Scientific news, EVP Supratim Bose sold 347,137 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $29.12, for a total transaction of $10,108,629.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael P. Phalen sold 15,500 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $28.72, for a total transaction of $445,160.00. The disclosure for this sale can be found here. Insiders have sold 424,698 shares of company stock worth $12,273,553 in the last three months. Insiders own 0.74% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Braun Stacey Associates grew its holdings in Boston Scientific by 40.4% during the 3rd quarter. Braun Stacey Associates now owns 348,420 shares of the medical equipment provider’s stock valued at $5,718,000 after purchasing an additional 100,185 shares in the last quarter. Janus Capital Management grew its holdings in Boston Scientific by 49.5% during the 3rd quarter. Janus Capital Management now owns 42,367,704 shares of the medical equipment provider’s stock worth $695,261,000 after acquiring an additional 14,035,306 shares in the last quarter. Churchill Management grew its holdings in Boston Scientific by 6.4% during the 4th quarter. Churchill Management now owns 209,907 shares of the medical equipment provider’s stock worth $3,871,000 after acquiring an additional 12,633 shares in the last quarter. Legacy Private Trust Company grew its holdings in Boston Scientific by 156.4% during the 4th quarter. Legacy Private Trust Company now owns 59,280 shares of the medical equipment provider’s stock worth $1,093,000 after acquiring an additional 36,160 shares in the last quarter. Finally, CIBC World Markets acquired a new position in Boston Scientific during the 4th quarter worth $1,503,000. 90.57% of the stock is currently owned by institutional investors.
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About Boston Scientific
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.
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