Boston Scientific Corporation (BSX) Receives $30.07 Consensus Price Target from Brokerages
Boston Scientific Corporation (NYSE:BSX) has earned an average rating of “Buy” from the twenty-two brokerages that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $30.07.
BSX has been the subject of several analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price target on shares of Boston Scientific Corporation in a research report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Boston Scientific Corporation in a research report on Tuesday, May 16th. They set a “neutral” rating and a $28.00 price target for the company. Oppenheimer Holdings, Inc. set a $27.00 price target on shares of Boston Scientific Corporation and gave the company a “hold” rating in a research report on Friday, April 28th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target (up previously from $29.00) on shares of Boston Scientific Corporation in a research report on Thursday, April 27th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $31.00 price target (up previously from $27.00) on shares of Boston Scientific Corporation in a research report on Wednesday, June 28th.
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In other Boston Scientific Corporation news, CFO Daniel J. Brennan sold 92,158 shares of the firm’s stock in a transaction dated 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 directly owns 235,421 shares in the company, valued at approximately $6,469,369.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael P. Phalen sold 15,500 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $27.25, for a total transaction of $422,375.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 207,625 shares of company stock valued at $5,686,383. 0.74% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in BSX. Lord Abbett & CO. LLC purchased a new stake in Boston Scientific Corporation during the second quarter worth $40,460,000. Sentry Investment Management LLC raised its stake in Boston Scientific Corporation by 1.1% in the second quarter. Sentry Investment Management LLC now owns 107,243 shares of the medical equipment provider’s stock worth $2,973,000 after buying an additional 1,125 shares in the last quarter. WFG Advisors LP raised its stake in Boston Scientific Corporation by 17.3% in the second quarter. WFG Advisors LP now owns 157,919 shares of the medical equipment provider’s stock worth $4,378,000 after buying an additional 23,305 shares in the last quarter. Toronto Dominion Bank raised its stake in Boston Scientific Corporation by 26.1% in the second quarter. Toronto Dominion Bank now owns 463,826 shares of the medical equipment provider’s stock worth $12,854,000 after buying an additional 95,902 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its stake in Boston Scientific Corporation by 80.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 16,800 shares of the medical equipment provider’s stock worth $466,000 after buying an additional 7,507 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.
Boston Scientific Corporation (NYSE BSX) traded up 0.04% during trading on Tuesday, hitting $26.72. The stock had a trading volume of 3,666,381 shares. Boston Scientific Corporation has a 12-month low of $19.67 and a 12-month high of $28.51. The stock has a 50 day moving average price of $27.09 and a 200 day moving average price of $26.21. The company has a market capitalization of $36.66 billion, a price-to-earnings ratio of 47.80 and a beta of 1.09.
Boston Scientific Corporation (NYSE:BSX) last announced its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Boston Scientific Corporation had a net margin of 9.04% and a return on equity of 23.62%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 EPS. Equities research analysts forecast that Boston Scientific Corporation will post $1.26 earnings per share for the current year.
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.
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