Boston Scientific Corp. (BSX) Receives $25.60 Average Price Target from Analysts
Boston Scientific Corp. (NYSE:BSX) has received an average rating of “Buy” from the twenty-seven analysts that are currently covering the firm. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $25.60.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Boston Scientific Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. TheStreet raised shares of Boston Scientific Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, October 26th. Royal Bank Of Canada reissued an “outperform” rating and set a $28.00 price target on shares of Boston Scientific Corp. in a research report on Friday, October 14th. Citigroup Inc. increased their price target on shares of Boston Scientific Corp. from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, October 6th. Finally, Argus raised shares of Boston Scientific Corp. from a “hold” rating to a “buy” rating and increased their price target for the stock from $23.82 to $33.00 in a research report on Thursday, September 1st. They noted that the move was a valuation call.
A number of large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Boston Scientific Corp. by 116.4% in the second quarter. JPMorgan Chase & Co. now owns 45,873,864 shares of the company’s stock worth $1,072,070,000 after buying an additional 24,672,937 shares during the period. Eaton Vance Management increased its stake in Boston Scientific Corp. by 14,198.2% in the second quarter. Eaton Vance Management now owns 3,907,561 shares of the company’s stock worth $91,320,000 after buying an additional 3,880,232 shares during the period. BlackRock Investment Management LLC increased its stake in Boston Scientific Corp. by 98.3% in the second quarter. BlackRock Investment Management LLC now owns 7,165,917 shares of the company’s stock worth $167,467,000 after buying an additional 3,552,349 shares during the period. Marshall Wace LLP increased its stake in Boston Scientific Corp. by 1,748.3% in the second quarter. Marshall Wace LLP now owns 3,258,892 shares of the company’s stock worth $76,159,000 after buying an additional 3,082,574 shares during the period. Finally, Columbus Circle Investors acquired a new stake in Boston Scientific Corp. during the second quarter worth approximately $64,918,000. 92.20% of the stock is owned by institutional investors.
Boston Scientific Corp. (NYSE:BSX) opened at 21.50 on Friday. Boston Scientific Corp. has a 12 month low of $15.67 and a 12 month high of $24.79. The stock has a market cap of $29.28 billion, a P/E ratio of 405.66 and a beta of 1.15. The stock has a 50 day moving average of $22.75 and a 200-day moving average of $23.10.
Boston Scientific Corp. (NYSE:BSX) last posted its earnings results on Wednesday, October 26th. The company reported $0.27 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.27. Boston Scientific Corp. had a net margin of 0.99% and a return on equity of 23.25%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. Boston Scientific Corp.’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts forecast that Boston Scientific Corp. will post $1.10 EPS for the current fiscal year.
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.
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