Boston Scientific Corporation (NYSE:BSX) Stock Rating Lowered by BidaskClub

Boston Scientific Corporation (NYSE:BSX) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, July 25th.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Boston Scientific Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. J P Morgan Chase & Co reissued an “overweight” rating and set a $31.00 price target (up from $27.00) on shares of Boston Scientific Corporation in a research note on Wednesday, June 28th. Royal Bank Of Canada reissued a “buy” rating and set a $31.00 price target on shares of Boston Scientific Corporation in a research note on Wednesday, July 12th. TheStreet raised shares of Boston Scientific Corporation from a “c+” rating to a “b” rating in a research note on Tuesday, April 25th. Finally, Stifel Nicolaus boosted their price target on shares of Boston Scientific Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $30.06.

Shares of Boston Scientific Corporation (NYSE BSX) traded up 0.57% during trading on Tuesday, reaching $26.41. 3,285,998 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $27.34 and a 200-day moving average price of $26.04. The company has a market capitalization of $36.24 billion, a PE ratio of 47.25 and a beta of 1.09. Boston Scientific Corporation has a 52-week low of $19.67 and a 52-week high of $28.51.

Boston Scientific Corporation (NYSE:BSX) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analyst estimates of $2.21 billion. During the same period in the prior year, the business earned $0.27 earnings per share. Boston Scientific Corporation’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities analysts forecast that Boston Scientific Corporation will post $1.26 earnings per share for the current year.

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In other news, CFO Daniel J. Brennan sold 92,158 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $27.48, for a total transaction of $2,532,501.84. Following the completion of the sale, the chief financial officer now owns 235,421 shares of the company’s stock, valued at $6,469,369.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John Bradley Sorenson sold 2,100 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $27.15, for a total transaction of $57,015.00. Following the sale, the senior vice president now directly owns 18,880 shares of the company’s stock, valued at approximately $512,592. The disclosure for this sale can be found here. Insiders have sold 236,489 shares of company stock valued at $6,440,888 in the last three months. 0.74% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Guardian Life Insurance Co. of America boosted its stake 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 worth $131,000 after buying an additional 49 shares in the last quarter. First Personal Financial Services boosted its stake in shares of Boston Scientific Corporation by 0.9% in the first quarter. First Personal Financial Services now owns 9,107 shares of the medical equipment provider’s stock worth $226,000 after buying an additional 80 shares in the last quarter. Comerica Securities Inc. boosted its stake in shares of Boston Scientific Corporation by 0.9% in the second quarter. Comerica Securities Inc. now owns 11,478 shares of the medical equipment provider’s stock worth $318,000 after buying an additional 99 shares in the last quarter. ETRADE Capital Management LLC boosted its stake in shares of Boston Scientific Corporation by 1.7% in the second quarter. ETRADE Capital Management LLC now owns 10,079 shares of the medical equipment provider’s stock worth $279,000 after buying an additional 171 shares in the last quarter. Finally, Cleararc Capital Inc. boosted its stake in shares of Boston Scientific Corporation by 0.8% in the first quarter. Cleararc Capital Inc. now owns 33,322 shares of the medical equipment provider’s stock worth $829,000 after buying an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 92.08% 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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