Boston Scientific Corp. (NYSE:BSX) had its target price raised by Citigroup Inc. from $28.00 to $29.00 in a report issued on Thursday morning. Citigroup Inc. currently has a buy rating on the stock.

BSX has been the subject of a number of other reports. Leerink Swann reaffirmed a buy rating and issued a $27.50 price objective (up from $25.50) on shares of Boston Scientific Corp. in a research note on Friday, June 17th. Argus raised shares of Boston Scientific Corp. from a hold rating to a buy rating and upped their price objective for the stock from $23.82 to $33.00 in a research note on Thursday, September 1st. They noted that the move was a valuation call. JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific Corp. from $24.00 to $27.00 and gave the stock an overweight rating in a research note on Friday, July 29th. Guggenheim started coverage on shares of Boston Scientific Corp. in a research note on Wednesday, June 8th. They issued a buy rating and a $26.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Boston Scientific Corp. from a buy rating to a hold rating in a research note on Tuesday, July 12th. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $25.07.

Analyst Recommendations for Boston Scientific Corp. (NYSE:BSX)

Shares of Boston Scientific Corp. (NYSE:BSX) traded down 0.38% during mid-day trading on Thursday, hitting $23.39. 1,715,095 shares of the stock were exchanged. The stock’s market cap is $31.83 billion. Boston Scientific Corp. has a 12 month low of $15.67 and a 12 month high of $24.79. The stock’s 50 day moving average is $23.79 and its 200-day moving average is $22.51.

Boston Scientific Corp. (NYSE:BSX) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.27 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.27. Boston Scientific Corp. had a negative net margin of 4.34% and a positive return on equity of 22.66%. The company earned $2.13 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, analysts anticipate that Boston Scientific Corp. will post ($0.02) EPS for the current year.

In related news, SVP John Bradley Sorenson sold 2,500 shares of Boston Scientific Corp. stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $23.90, for a total transaction of $59,750.00. Following the completion of the transaction, the senior vice president now owns 12,615 shares of the company’s stock, valued at $301,498.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David A. Pierce sold 2,480 shares of Boston Scientific Corp. stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $24.03, for a total transaction of $59,594.40. Following the transaction, the senior vice president now directly owns 28,080 shares of the company’s stock, valued at approximately $674,762.40. The disclosure for this sale can be found here. Corporate insiders own 1.31% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BSX. Commonwealth Equity Services Inc increased its position in shares of Boston Scientific Corp. by 0.5% in the first quarter. Commonwealth Equity Services Inc now owns 51,367 shares of the company’s stock worth $966,000 after buying an additional 246 shares in the last quarter. IFP Advisors Inc increased its position in shares of Boston Scientific Corp. by 55.5% in the first quarter. IFP Advisors Inc now owns 6,242 shares of the company’s stock worth $117,000 after buying an additional 2,228 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of Boston Scientific Corp. during the first quarter worth $265,000. Ngam Advisors L.P. increased its position in shares of Boston Scientific Corp. by 7.0% in the first quarter. Ngam Advisors L.P. now owns 46,378 shares of the company’s stock worth $872,000 after buying an additional 3,022 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Boston Scientific Corp. by 6.1% in the first quarter. Prudential Financial Inc. now owns 1,755,682 shares of the company’s stock worth $33,024,000 after buying an additional 100,780 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

About Boston Scientific Corp.

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 core businesses: Interventional Cardiology, Peripheral Interventions (PI), Cardiac Rhythm Management (CRM), Electrophysiology (EP), Endoscopy, Urology and Pelvic Health, and Neuromodulation.

5 Day Chart for NYSE:BSX

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