Boston Scientific Corporation (NYSE:BSX) - Analysts at Leerink Swann cut their Q3 2017 EPS estimates for shares of Boston Scientific Corporation in a research report issued on Friday. Leerink Swann analyst D. Antalffy now expects that the medical equipment provider will post earnings of $0.31 per share for the quarter, down from their prior forecast of $0.32.
Boston Scientific Corporation (NYSE:BSX) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. Boston Scientific Corporation’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS.
Several other analysts have also weighed in on BSX. Cowen and Company reissued a “buy” rating and set a $32.00 price objective (up previously from $31.00) on shares of Boston Scientific Corporation in a report on Friday, July 28th. Zacks Investment Research raised Boston Scientific Corporation from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub lowered Boston Scientific Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. UBS AG reaffirmed a “buy” rating and issued a $31.00 price target (up previously from $30.00) on shares of Boston Scientific Corporation in a research note on Tuesday. Finally, Oppenheimer Holdings, Inc. set a $29.00 price objective on Boston Scientific Corporation and gave the stock a “hold” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $30.06.
Boston Scientific Corporation (BSX) opened at 26.48 on Monday. The stock has a market capitalization of $36.29 billion, a PE ratio of 47.37 and a beta of 1.09. The stock’s 50 day moving average price is $27.64 and its 200 day moving average price is $25.93. Boston Scientific Corporation has a 1-year low of $19.67 and a 1-year high of $28.51.
In other Boston Scientific Corporation news, CFO Daniel J. Brennan sold 92,158 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $27.48, for a total value of $2,532,501.84. Following the sale, the chief financial officer now owns 235,421 shares of the company’s stock, valued at approximately $6,469,369.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kevin J. Ballinger sold 28,864 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $26.14, for a total value of $754,504.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,156 shares of company stock worth $5,633,282. Company insiders own 0.74% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its stake in Boston Scientific Corporation by 10.3% in the first quarter. Quadrant Capital Group LLC now owns 5,201 shares of the medical equipment provider’s stock valued at $122,000 after buying an additional 487 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in shares of Boston Scientific Corporation by 7.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,041 shares of the medical equipment provider’s stock valued at $125,000 after buying an additional 338 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in shares of Boston Scientific Corporation by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 5,266 shares of the medical equipment provider’s stock valued at $131,000 after buying an additional 49 shares in the last quarter. Commerce Bank bought a new position in shares of Boston Scientific Corporation during the first quarter valued at about $207,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Boston Scientific Corporation during the first quarter valued at about $215,000. 91.96% of the stock is currently owned by institutional investors.
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.
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