BidaskClub cut shares of Boston Scientific Corporation (NYSE:BSX) from a hold rating to a sell rating in a report published on Tuesday, August 1st.
A number of other research firms also recently weighed in on BSX. Stifel Nicolaus restated a buy rating and set a $32.00 target price on shares of Boston Scientific Corporation in a research report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) started coverage on Boston Scientific Corporation in a report on Tuesday, May 16th. They issued a neutral rating and a $28.00 price objective for the company. Oppenheimer Holdings, Inc. set a $27.00 price objective on Boston Scientific Corporation and gave the company a hold rating in a report on Friday, April 28th. Needham & Company LLC reiterated a buy rating and issued a $30.00 price objective (up previously from $29.00) on shares of Boston Scientific Corporation in a report on Thursday, April 27th. Finally, J P Morgan Chase & Co restated an overweight rating and issued a $31.00 price target (up from $27.00) on shares of Boston Scientific Corporation in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $30.06.
Boston Scientific Corporation (NYSE BSX) opened at 26.89 on Tuesday. Boston Scientific Corporation has a one year low of $19.67 and a one year high of $28.51. The firm has a market capitalization of $36.90 billion, a price-to-earnings ratio of 48.10 and a beta of 1.09. The stock’s 50 day moving average price is $27.16 and its 200-day moving average price is $26.15.
Boston Scientific Corporation (NYSE:BSX) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.21 billion. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. On average, equities research analysts anticipate that Boston Scientific Corporation will post $1.26 earnings per share for the current fiscal year.
In related news, EVP Michael P. Phalen sold 15,500 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $27.25, for a total transaction of $422,375.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Bradley Sorenson sold 7,900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $26.37, for a total value of $208,323.00. Following the completion of the sale, the senior vice president now directly owns 21,680 shares of the company’s stock, valued at $571,701.60. The disclosure for this sale can be found here. Insiders have sold 207,625 shares of company stock valued at $5,686,383 over the last three months. Insiders own 0.74% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BSX. Quadrant Capital Group LLC boosted 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 worth $122,000 after buying an additional 487 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in 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 worth $125,000 after buying an additional 338 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake in 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 during the last quarter. Acrospire Investment Management LLC boosted its stake in Boston Scientific Corporation by 157.3% in the second quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock worth $141,000 after buying an additional 3,100 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA acquired a new stake in Boston Scientific Corporation during the second quarter worth about $191,000. 91.62% of the stock is owned by institutional investors.
About Boston Scientific Corporation
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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