Boston Scientific (BSX) Stock Price Up 8.3%
Boston Scientific Corporation (NYSE:BSX) rose 8.3% during mid-day trading on Tuesday . The stock traded as high as $28.03 and last traded at $27.96. Approximately 24,980,237 shares were traded during mid-day trading, an increase of 96% from the average daily volume of 12,756,617 shares. The stock had previously closed at $25.81.
BSX has been the subject of several analyst reports. Canaccord Genuity reduced their target price on shares of Boston Scientific from $36.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, November 29th. Zacks Investment Research lowered shares of Boston Scientific from a “hold” rating to a “sell” rating in a report on Tuesday. BMO Capital Markets reissued a “buy” rating and issued a $30.00 target price on shares of Boston Scientific in a report on Friday, October 13th. JPMorgan Chase & Co. restated a “buy” rating on shares of Boston Scientific in a research note on Wednesday, November 29th. Finally, Royal Bank of Canada upgraded Boston Scientific from an “outperform” rating to a “top pick” rating in a research note on Friday, January 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Boston Scientific presently has an average rating of “Buy” and an average target price of $31.00.
The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.72. The company has a market capitalization of $37,630.00, a PE ratio of 44.72, a P/E/G ratio of 1.82 and a beta of 0.96.
Boston Scientific (NYSE:BSX) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.21 billion. Boston Scientific had a return on equity of 23.60% and a net margin of 9.55%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. analysts predict that Boston Scientific Corporation will post 1.25 earnings per share for the current fiscal year.
In other news, EVP Michael P. Phalen sold 15,500 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $28.42, for a total transaction of $440,510.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David A. Pierce sold 5,152 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $27.00, for a total value of $139,104.00. The disclosure for this sale can be found here. Insiders have sold a total of 87,822 shares of company stock valued at $2,335,112 over the last quarter. Corporate insiders own 0.74% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors lifted its position in Boston Scientific by 1.6% in the second quarter. Capital World Investors now owns 101,914,290 shares of the medical equipment provider’s stock worth $2,825,064,000 after buying an additional 1,611,442 shares during the last quarter. BlackRock Inc. lifted its position in Boston Scientific by 4.6% in the second quarter. BlackRock Inc. now owns 100,184,511 shares of the medical equipment provider’s stock worth $2,777,113,000 after buying an additional 4,439,966 shares during the last quarter. Vanguard Group Inc. lifted its position in Boston Scientific by 2.8% in the second quarter. Vanguard Group Inc. now owns 93,657,300 shares of the medical equipment provider’s stock worth $2,596,181,000 after buying an additional 2,522,556 shares during the last quarter. Janus Henderson Group PLC lifted its position in Boston Scientific by 22,491.6% in the second quarter. Janus Henderson Group PLC now owns 38,862,599 shares of the medical equipment provider’s stock worth $1,077,270,000 after buying an additional 38,690,577 shares during the last quarter. Finally, Winslow Capital Management LLC lifted its position in Boston Scientific by 21.9% in the second quarter. Winslow Capital Management LLC now owns 11,212,783 shares of the medical equipment provider’s stock worth $310,818,000 after buying an additional 2,011,640 shares during the last quarter. Institutional investors own 90.36% of the company’s stock.
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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