Boston Scientific Co. (BSX) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Boston Scientific Co. (NYSE:BSX) have received a consensus rating of “Buy” from the twenty-five ratings firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $41.91.
A number of equities analysts have recently issued reports on BSX shares. Needham & Company LLC reissued a “buy” rating and set a $43.00 price objective on shares of Boston Scientific in a research report on Monday. BTIG Research reissued a “buy” rating on shares of Boston Scientific in a research report on Thursday, April 25th. Canaccord Genuity cut their price objective on shares of Boston Scientific from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Argus increased their price objective on shares of Boston Scientific from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. Finally, SunTrust Banks reissued a “buy” rating and set a $47.00 price objective on shares of Boston Scientific in a research report on Friday, February 8th.
Shares of BSX stock traded up $0.36 during trading on Friday, hitting $37.12. The company had a trading volume of 185,630 shares, compared to its average volume of 10,248,818. The company has a current ratio of 1.39, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82. The stock has a market cap of $50.02 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 2.13 and a beta of 0.83. Boston Scientific has a one year low of $29.42 and a one year high of $41.00.
In related news, CFO Daniel J. Brennan sold 64,223 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $40.84, for a total transaction of $2,622,867.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.10, for a total transaction of $185,500.00. The disclosure for this sale can be found here. Insiders sold a total of 298,116 shares of company stock worth $11,926,744 in the last 90 days. 0.66% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Boston Scientific in the fourth quarter valued at approximately $468,943,000. Oregon Public Employees Retirement Fund increased its position in Boston Scientific by 7,922.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,978,846 shares of the medical equipment provider’s stock worth $339,000 after purchasing an additional 11,829,528 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Boston Scientific by 164.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,944,961 shares of the medical equipment provider’s stock worth $280,775,000 after purchasing an additional 4,941,897 shares in the last quarter. BlackRock Inc. increased its position in Boston Scientific by 3.7% during the 4th quarter. BlackRock Inc. now owns 116,508,996 shares of the medical equipment provider’s stock worth $4,117,428,000 after purchasing an additional 4,195,164 shares in the last quarter. Finally, Marshall Wace LLP increased its position in Boston Scientific by 251.5% during the 1st quarter. Marshall Wace LLP now owns 4,413,791 shares of the medical equipment provider’s stock worth $169,401,000 after purchasing an additional 3,158,088 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.
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: 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.
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