Boston Scientific Corporation (NYSE:BSX) – Leerink Swann dropped their Q2 2018 earnings per share estimates for shares of Boston Scientific in a note issued to investors on Thursday. Leerink Swann analyst D. Antalffy now anticipates that the medical equipment provider will post earnings of $0.35 per share for the quarter, down from their prior estimate of $0.37. Leerink Swann also issued estimates for Boston Scientific’s Q3 2018 earnings at $0.34 EPS, Q4 2018 earnings at $0.37 EPS, FY2018 earnings at $1.37 EPS, FY2019 earnings at $1.56 EPS and FY2020 earnings at $1.75 EPS.
BSX has been the subject of several other research reports. SunTrust Banks set a $34.00 target price on shares of Boston Scientific and gave the company a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. BMO Capital Markets reaffirmed a “buy” rating and issued a $32.00 target price on shares of Boston Scientific in a research note on Tuesday, December 12th. Evercore ISI began coverage on shares of Boston Scientific in a research note on Wednesday, January 3rd. They issued an “in-line” rating and a $27.00 target price for the company. Finally, Jefferies Group reaffirmed a “neutral” rating on shares of Boston Scientific in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $31.00.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Thursday, February 1st. The medical equipment provider reported $0.34 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.34. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. Boston Scientific had a net margin of 1.15% and a return on equity of 24.04%. Boston Scientific’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share.
In other Boston Scientific news, EVP Michael P. Phalen sold 15,835 shares of the stock in a transaction on Friday, December 29th. The shares were sold at an average price of $25.25, for a total value of $399,833.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Valley Gold Master Fund L. Sun purchased 408,006 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was purchased at an average price of $0.45 per share, with a total value of $183,602.70. Insiders have sold 76,237 shares of company stock valued at $1,996,806 in the last 90 days. 0.74% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. bought a new position in shares of Boston Scientific in the fourth quarter valued at about $293,000. Public Employees Retirement Association of Colorado raised its position in shares of Boston Scientific by 3.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 260,082 shares of the medical equipment provider’s stock valued at $6,447,000 after purchasing an additional 8,727 shares during the period. CIBC Asset Management Inc raised its position in shares of Boston Scientific by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 139,928 shares of the medical equipment provider’s stock valued at $3,469,000 after purchasing an additional 6,751 shares during the period. Aperio Group LLC raised its position in shares of Boston Scientific by 0.5% in the fourth quarter. Aperio Group LLC now owns 519,407 shares of the medical equipment provider’s stock valued at $12,876,000 after purchasing an additional 2,830 shares during the period. Finally, Comerica Bank raised its position in shares of Boston Scientific by 1.9% in the fourth quarter. Comerica Bank now owns 365,319 shares of the medical equipment provider’s stock valued at $10,196,000 after purchasing an additional 6,810 shares during the period. Hedge funds and other institutional investors own 90.59% of the company’s stock.
Boston Scientific 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.
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