Boston Scientific Corporation (BSX) Sets New 12-Month High at $29.44
Boston Scientific Corporation (NYSE:BSX)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $29.44 and last traded at $29.47, with a volume of 5,815,191 shares traded. The stock had previously closed at $29.17.
BSX has been the subject of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 target price on shares of Boston Scientific Corporation in a research note on Sunday, July 30th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $31.00 price target (up previously from $27.00) on shares of Boston Scientific Corporation in a report on Wednesday, June 28th. Jefferies Group LLC reissued a “hold” rating on shares of Boston Scientific Corporation in a research report on Thursday, September 7th. Royal Bank Of Canada reissued a “buy” rating and set a $31.00 price target on shares of Boston Scientific Corporation in a research report on Friday, September 1st. Finally, BidaskClub lowered shares of Boston Scientific Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Boston Scientific Corporation has an average rating of “Buy” and an average target price of $30.12.
The company’s 50-day moving average price is $27.39 and its 200 day moving average price is $26.61. The stock has a market capitalization of $40.44 billion, a P/E ratio of 52.72 and a beta of 1.09.
Boston Scientific Corporation (NYSE:BSX) last released 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 business had revenue of $2.26 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. On average, equities analysts anticipate that Boston Scientific Corporation will post $1.26 earnings per share for the current fiscal year.
In other news, SVP Wendy Carruthers sold 12,433 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $26.75, for a total value of $332,582.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Timothy A. Pratt sold 10,104 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $27.46, for a total value of $277,455.84. Following the completion of the transaction, the executive vice president now owns 185,742 shares in the company, valued at $5,100,475.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,757 shares of company stock valued at $6,799,384. 0.74% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. raised its holdings in Boston Scientific Corporation by 9.1% in the first quarter. UBS Asset Management Americas Inc. now owns 3,435,806 shares of the medical equipment provider’s stock valued at $85,448,000 after buying an additional 286,705 shares during the period. Baird Financial Group Inc. purchased a new stake in Boston Scientific Corporation during the first quarter worth approximately $293,000. Raymond James Financial Services Advisors Inc. grew its stake in Boston Scientific Corporation by 12.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 43,318 shares of the medical equipment provider’s stock worth $1,077,000 after buying an additional 4,657 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Boston Scientific Corporation during the first quarter worth approximately $215,000. Finally, Schroder Investment Management Group grew its stake in Boston Scientific Corporation by 17.6% during the first quarter. Schroder Investment Management Group now owns 266,557 shares of the medical equipment provider’s stock worth $6,517,000 after buying an additional 39,931 shares during the period. 90.44% of the stock is owned by hedge funds and other institutional investors.
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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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