Boston Scientific Corporation (BSX) Rating Reiterated by Royal Bank Of Canada
Boston Scientific Corporation (NYSE:BSX)‘s stock had its “buy” rating reiterated by investment analysts at Royal Bank Of Canada in a research note issued to investors on Friday. They currently have a $31.00 target price on the medical equipment provider’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 12.73% from the stock’s previous close.
A number of other brokerages have also weighed in on BSX. Zacks Investment Research downgraded shares of Boston Scientific Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. BMO Capital Markets reiterated a “buy” rating and issued a $30.00 price objective on shares of Boston Scientific Corporation in a report on Wednesday, June 21st. Needham & Company LLC lifted their price objective on shares of Boston Scientific Corporation from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, June 22nd. BidaskClub upgraded shares of Boston Scientific Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $31.00 price objective (up from $27.00) on shares of Boston Scientific Corporation in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Boston Scientific Corporation has a consensus rating of “Buy” and a consensus target price of $29.88.
Boston Scientific Corporation (NYSE:BSX) opened at 27.50 on Friday. The company has a 50-day moving average price of $27.02 and a 200 day moving average price of $26.29. The stock has a market cap of $37.73 billion, a price-to-earnings ratio of 49.19 and a beta of 1.09. Boston Scientific Corporation has a 12-month low of $19.67 and a 12-month high of $28.51.
Boston Scientific Corporation (NYSE:BSX) last released its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share for the quarter, topping the 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 business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the firm earned $0.27 EPS. Boston Scientific Corporation’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that Boston Scientific Corporation will post $1.26 EPS for the current year.
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In other news, SVP Wendy Carruthers sold 12,433 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $26.75, for a total value of $332,582.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David A. Pierce sold 13,562 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $28.00, for a total transaction of $379,736.00. Following the completion of the sale, the senior vice president now directly owns 33,701 shares of the company’s stock, valued at approximately $943,628. The disclosure for this sale can be found here. In the last three months, insiders sold 288,819 shares of company stock valued at $7,892,130. 0.74% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its position 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 period. Guardian Life Insurance Co. of America boosted its position 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 period. Acrospire Investment Management LLC boosted its position 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 period. San Francisco Sentry Investment Group CA bought a new position in Boston Scientific Corporation during the second quarter worth approximately $191,000. Finally, Peddock Capital Advisors LLC bought a new position in Boston Scientific Corporation during the second quarter worth approximately $201,000. 90.52% of the stock is owned by institutional investors and hedge funds.
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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