Boston Scientific Corporation (BSX) Receives $30.91 Average PT from Analysts

Boston Scientific Corporation (NYSE:BSX) has been assigned a consensus recommendation of “Buy” from the twenty-one research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $30.91.

A number of research analysts have issued reports on the stock. Canaccord Genuity assumed coverage on shares of Boston Scientific in a research note on Tuesday, October 24th. They set a “buy” rating and a $36.00 target price for the company. 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 research note on Friday, October 20th. BMO Capital Markets boosted their target price on shares of Boston Scientific from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. 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. Finally, Barclays reissued a “buy” rating and set a $32.00 target price on shares of Boston Scientific in a research note on Wednesday, January 10th.

In related news, EVP Joseph Michael Fitzgerald sold 85,227 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $26.48, for a total value of $2,256,810.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maulik Nanavaty sold 15,568 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.38, for a total transaction of $395,115.84. The disclosure for this sale can be found here. Insiders sold a total of 177,032 shares of company stock worth $4,648,733 over the last quarter. Insiders own 0.74% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sentry Investment Management LLC raised its stake in Boston Scientific by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 107,243 shares of the medical equipment provider’s stock valued at $2,973,000 after purchasing an additional 1,125 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Boston Scientific by 2.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 44,496 shares of the medical equipment provider’s stock worth $1,233,000 after acquiring an additional 1,178 shares during the last quarter. Nippon Life Insurance Co. grew its holdings in Boston Scientific by 2.8% during the 3rd quarter. Nippon Life Insurance Co. now owns 62,876 shares of the medical equipment provider’s stock worth $1,834,000 after acquiring an additional 1,733 shares during the last quarter. Brown Advisory Inc. grew its holdings in Boston Scientific by 3.0% during the 3rd quarter. Brown Advisory Inc. now owns 60,451 shares of the medical equipment provider’s stock worth $1,763,000 after acquiring an additional 1,771 shares during the last quarter. Finally, Moors & Cabot Inc. grew its holdings in Boston Scientific by 3.7% during the 3rd quarter. Moors & Cabot Inc. now owns 49,975 shares of the medical equipment provider’s stock worth $1,468,000 after acquiring an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 89.84% of the company’s stock.

Shares of Boston Scientific (BSX) traded up $0.22 during mid-day trading on Tuesday, reaching $27.31. 3,250,330 shares of the company’s stock traded hands, compared to its average volume of 9,443,891. The firm has a market cap of $37,500.00, a price-to-earnings ratio of 39.01, a P/E/G ratio of 1.94 and a beta of 0.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.72. Boston Scientific has a 52 week low of $23.29 and a 52 week high of $29.93.

Boston Scientific (NYSE:BSX) last posted its earnings results on Thursday, February 1st. The medical equipment provider reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates 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 was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. equities research analysts predict that Boston Scientific will post 1.37 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Boston Scientific (NYSE:BSX)

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