Boston Scientific (NYSE:BSX) had its target price raised by analysts at Argus to $41.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Argus’ price objective points to a potential upside of 14.53% from the stock’s previous close. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued reports about the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $37.00 price target on shares of Boston Scientific in a research note on Thursday, July 26th. Guggenheim reaffirmed a “buy” rating and set a $43.00 price target on shares of Boston Scientific in a research note on Friday, July 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a $34.00 price target on shares of Boston Scientific in a research note on Thursday, July 26th. Sanford C. Bernstein assumed coverage on Boston Scientific in a research note on Wednesday, June 27th. They set an “outperform” rating and a $38.00 price target for the company. Finally, Zacks Investment Research raised Boston Scientific from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Friday, May 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.86.
Boston Scientific stock traded up $0.05 during mid-day trading on Wednesday, hitting $35.80. The company’s stock had a trading volume of 46,531 shares, compared to its average volume of 5,926,108. The company has a market cap of $49.18 billion, a P/E ratio of 28.44, a P/E/G ratio of 2.60 and a beta of 0.63. The company has a current ratio of 0.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.62. Boston Scientific has a 52-week low of $24.54 and a 52-week high of $37.30.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm 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 business earned $0.32 EPS. equities analysts forecast that Boston Scientific will post 1.39 earnings per share for the current fiscal year.
In other Boston Scientific news, SVP Jeffrey B. Mirviss sold 33,512 shares of the firm’s stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of $34.00, for a total value of $1,139,408.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 136,393 shares of company stock worth $4,619,864 in the last ninety days. Insiders own 0.73% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA acquired a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $715,000. Public Employees Retirement System of Ohio grew its holdings in shares of Boston Scientific by 2.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 965,855 shares of the medical equipment provider’s stock worth $31,583,000 after purchasing an additional 19,383 shares in the last quarter. WealthPLAN Partners LLC acquired a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $208,000. Bank of Nova Scotia grew its holdings in shares of Boston Scientific by 112.6% during the 2nd quarter. Bank of Nova Scotia now owns 371,983 shares of the medical equipment provider’s stock worth $12,164,000 after purchasing an additional 197,014 shares in the last quarter. Finally, South Street Advisors LLC acquired a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $10,690,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.
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: 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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