Boston Scientific Corporation (NYSE:BSX) had its price target lifted by Barclays PLC from $30.00 to $31.00 in a research note published on Wednesday, June 28th, Marketbeat.com reports. The firm currently has an overweight rating on the medical equipment provider’s stock.
A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Boston Scientific Corporation from a hold rating to a sell rating in a report on Wednesday, April 5th. Needham & Company LLC lifted their price objective on shares of Boston Scientific Corporation from $30.00 to $32.00 and gave the stock a buy rating in a report on Thursday, June 22nd. TheStreet cut Boston Scientific Corporation from a b rating to a c+ rating in a research note on Thursday, March 16th. Goldman Sachs Group, Inc. (The) assumed coverage on Boston Scientific Corporation in a research note on Tuesday, May 16th. They set a neutral rating and a $28.00 target price on the stock. Finally, Guggenheim reiterated a buy rating on shares of Boston Scientific Corporation in a research note on Wednesday, April 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Boston Scientific Corporation has an average rating of Buy and a consensus price target of $29.71.
Shares of Boston Scientific Corporation (NYSE:BSX) opened at 27.01 on Wednesday. Boston Scientific Corporation has a 1-year low of $19.67 and a 1-year high of $28.51. The firm has a market capitalization of $36.99 billion, a PE ratio of 86.57 and a beta of 1.10. The firm has a 50-day moving average price of $27.71 and a 200-day moving average price of $25.85.
Boston Scientific Corporation (NYSE:BSX) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.21 billion. Boston Scientific Corporation had a net margin of 5.07% and a return on equity of 23.45%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. On average, analysts forecast that Boston Scientific Corporation will post $1.25 EPS for the current fiscal year.
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In related news, CFO Daniel J. Brennan sold 92,158 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $27.48, for a total transaction of $2,532,501.84. Following the completion of the transaction, the chief financial officer now owns 235,421 shares in the company, valued at $6,469,369.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP David A. Pierce sold 2,972 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $27.70, for a total value of $82,324.40. Following the transaction, the senior vice president now owns 28,572 shares of the company’s stock, valued at approximately $791,444.40. The disclosure for this sale can be found here. Insiders sold 198,556 shares of company stock valued at $5,419,452 in the last quarter. Corporate insiders own 0.74% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. increased its position in shares of 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 in the last quarter. Quadrant Capital Group LLC increased its position in Boston Scientific Corporation by 10.3% in the first quarter. Quadrant Capital Group LLC now owns 5,201 shares of the medical equipment provider’s stock worth $122,000 after buying an additional 487 shares during the period. Guardian Life Insurance Co. of America increased 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. Parametrica Management Ltd purchased a new position in Boston Scientific Corporation during the second quarter worth about $219,000. Finally, Commerce Bank purchased a new position in Boston Scientific Corporation during the first quarter worth about $207,000. Institutional investors own 92.11% of the company’s stock.
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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