Barclays Reiterates Buy Rating for Boston Scientific (BSX)
Boston Scientific (NYSE:BSX)‘s stock had its “buy” rating reaffirmed by Barclays in a research report issued to clients and investors on Wednesday. They currently have a $32.00 price target on the medical equipment provider’s stock. Barclays’ price target would suggest a potential upside of 16.47% from the company’s previous close.
Other research analysts have also issued research reports about the company. BMO Capital Markets restated a “buy” rating and set a $30.00 target price on shares of Boston Scientific in a research report on Friday, October 13th. Needham & Company LLC restated a “buy” rating and set a $32.00 target price on shares of Boston Scientific in a research report on Tuesday, October 3rd. SunTrust Banks restated a “buy” rating and set a $34.00 target price on shares of Boston Scientific in a research report on Monday, October 2nd. Stifel Nicolaus restated a “buy” rating and set a $32.00 target price on shares of Boston Scientific in a research report on Monday, September 25th. Finally, Canaccord Genuity dropped their target price on Boston Scientific from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, November 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $31.00.
Boston Scientific (NYSE BSX) traded down $0.48 on Wednesday, reaching $27.48. The company had a trading volume of 7,164,482 shares, compared to its average volume of 12,757,684. Boston Scientific has a 12 month low of $22.19 and a 12 month high of $29.93. The stock has a market capitalization of $37,790.00, a price-to-earnings ratio of 45.04, a P/E/G ratio of 1.82 and a beta of 0.96. The company has a current ratio of 0.72, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58.
In related news, insider Valley Gold Master Fund L. Sun purchased 408,006 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was purchased at an average price of $0.45 per share, with a total value of $183,602.70. Also, EVP Timothy A. Pratt sold 10,000 shares of Boston Scientific stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $28.22, for a total transaction of $282,200.00. Following the sale, the executive vice president now directly owns 164,681 shares of the company’s stock, valued at approximately $4,647,297.82. The disclosure for this sale can be found here. Insiders have sold 82,670 shares of company stock valued at $2,196,008 in the last ninety days. Insiders own 0.74% of the company’s stock.
Large investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC bought a new position in Boston Scientific in the third quarter worth approximately $138,000. Steward Partners Investment Advisory LLC bought a new position in Boston Scientific in the third quarter worth approximately $139,000. Acrospire Investment Management LLC raised its stake in Boston Scientific 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 in the last quarter. San Francisco Sentry Investment Group CA bought a new position in Boston Scientific in the second quarter worth approximately $191,000. Finally, Ironwood Investment Counsel LLC bought a new position in Boston Scientific in the third quarter worth approximately $204,000. 90.36% of the stock is owned by institutional investors.
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About Boston Scientific
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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