Boston Scientific (NYSE:BSX) Upgraded by ValuEngine to “Buy”

Boston Scientific (NYSE:BSX) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday, ValuEngine reports.

Other analysts have also recently issued research reports about the stock. Stephens set a $48.00 price objective on shares of Boston Scientific and gave the company a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. initiated coverage on shares of Boston Scientific in a research report on Thursday, September 5th. They set an “overweight” rating on the stock. Piper Jaffray Companies set a $50.00 price objective on shares of Boston Scientific and gave the company a “buy” rating in a research report on Wednesday, July 24th. Guggenheim set a $53.00 price objective on shares of Boston Scientific and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Morgan Stanley set a $50.00 price objective on shares of Boston Scientific and gave the company a “buy” rating in a research report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $47.07.

Shares of Boston Scientific stock traded down $0.21 on Friday, hitting $40.51. 3,199,353 shares of the company traded hands, compared to its average volume of 7,209,796. The firm’s 50-day simple moving average is $40.34 and its 200 day simple moving average is $40.64. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.81. The company has a market cap of $56.54 billion, a P/E ratio of 27.56, a P/E/G ratio of 2.27 and a beta of 0.76. Boston Scientific has a 12-month low of $31.56 and a 12-month high of $43.84.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Boston Scientific had a net margin of 10.49% and a return on equity of 23.47%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company posted $0.35 EPS. Analysts predict that Boston Scientific will post 1.56 earnings per share for the current year.

In related news, SVP John Bradley Sorenson sold 6,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $42.79, for a total transaction of $256,740.00. Following the transaction, the senior vice president now owns 42,385 shares of the company’s stock, valued at approximately $1,813,654.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Maulik Nanavaty sold 34,035 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $42.65, for a total transaction of $1,451,592.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,072 shares of company stock worth $4,188,092. 0.66% of the stock is owned by insiders.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

A number of institutional investors have recently made changes to their positions in the business. Cetera Advisor Networks LLC grew its holdings in Boston Scientific by 47.1% in the 3rd quarter. Cetera Advisor Networks LLC now owns 30,666 shares of the medical equipment provider’s stock worth $1,244,000 after acquiring an additional 9,814 shares during the last quarter. Corient Capital Partners LLC grew its holdings in Boston Scientific by 23.3% in the 3rd quarter. Corient Capital Partners LLC now owns 14,126 shares of the medical equipment provider’s stock worth $575,000 after acquiring an additional 2,671 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in Boston Scientific by 0.6% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 53,046 shares of the medical equipment provider’s stock worth $2,158,000 after acquiring an additional 298 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in Boston Scientific by 2,692.1% in the 3rd quarter. Great Lakes Advisors LLC now owns 471,816 shares of the medical equipment provider’s stock worth $19,198,000 after acquiring an additional 454,918 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in Boston Scientific by 550.1% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 13,001 shares of the medical equipment provider’s stock worth $529,000 after acquiring an additional 11,001 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

Read More: Trading Stocks – What are percentage gainers?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Boston Scientific (NYSE:BSX)

Leave a Reply

Your email address will not be published. Required fields are marked *

*