Oppenheimer Reiterates Hold Rating for Boston Scientific (BSX)

Boston Scientific (NYSE:BSX)‘s stock had its “hold” rating reiterated by research analysts at Oppenheimer in a note issued to investors on Tuesday.

BSX has been the subject of a number of other reports. ValuEngine raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Monday, June 11th. Royal Bank of Canada raised their price objective on shares of Boston Scientific to $36.00 and gave the company a “top pick” rating in a research note on Monday, July 23rd. Sanford C. Bernstein began coverage on shares of Boston Scientific in a research note on Wednesday, June 27th. They set an “outperform” rating and a $38.00 price objective on the stock. SunTrust Banks raised their price objective on shares of Boston Scientific to $39.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. Finally, Guggenheim reiterated a “buy” rating and set a $43.00 price objective on shares of Boston Scientific in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $36.43.

BSX stock opened at $38.40 on Tuesday. The firm has a market cap of $52.23 billion, a PE ratio of 30.48, a PEG ratio of 2.63 and a beta of 0.63. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.60. Boston Scientific has a 52 week low of $24.54 and a 52 week high of $38.49.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.47 billion. Boston Scientific had a return on equity of 26.35% and a net margin of 5.48%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. analysts forecast that Boston Scientific will post 1.39 earnings per share for the current fiscal year.

In other news, EVP David A. Pierce sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $36.02, for a total value of $180,100.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP John Bradley Sorenson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $35.86, for a total transaction of $358,600.00. Following the completion of the sale, the senior vice president now owns 44,636 shares in the company, valued at $1,600,646.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 175,250 shares of company stock worth $6,196,995. 0.73% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Rampart Investment Management Company LLC boosted its stake in shares of Boston Scientific by 230.9% in the 1st quarter. Rampart Investment Management Company LLC now owns 55,820 shares of the medical equipment provider’s stock valued at $1,525,000 after purchasing an additional 38,950 shares in the last quarter. Sei Investments Co. raised its holdings in Boston Scientific by 7.8% in the 2nd quarter. Sei Investments Co. now owns 3,853,853 shares of the medical equipment provider’s stock valued at $126,021,000 after buying an additional 278,777 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Boston Scientific by 63.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 319,940 shares of the medical equipment provider’s stock valued at $10,462,000 after buying an additional 124,350 shares during the last quarter. Tdam USA Inc. bought a new position in Boston Scientific in the 2nd quarter valued at approximately $3,758,000. Finally, Stevens Capital Management LP bought a new position in Boston Scientific in the 2nd quarter valued at approximately $1,493,000. Institutional investors own 90.89% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. 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.

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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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