Needham & Company LLC restated their buy rating on shares of Boston Scientific Corporation (NYSE:BSX) in a research report released on Tuesday morning. The brokerage currently has a $32.00 target price on the medical equipment provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. BidaskClub cut shares of Boston Scientific Corporation from a hold rating to a sell rating in a research report on Saturday, August 26th. Royal Bank Of Canada reissued a buy rating and set a $31.00 target price on shares of Boston Scientific Corporation in a report on Friday, September 1st. Stifel Nicolaus reissued a buy rating and set a $32.00 target price on shares of Boston Scientific Corporation in a report on Sunday, July 30th. Zacks Investment Research lowered shares of Boston Scientific Corporation from a hold rating to a sell rating in a report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. reissued a hold rating on shares of Boston Scientific Corporation in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $30.13.

Shares of Boston Scientific Corporation (NYSE BSX) opened at 29.50 on Tuesday. The company has a market capitalization of $40.48 billion, a PE ratio of 52.77 and a beta of 1.09. Boston Scientific Corporation has a 52 week low of $19.67 and a 52 week high of $29.54. The firm’s 50-day moving average is $28.30 and its 200 day moving average is $26.99.

Boston Scientific Corporation (NYSE:BSX) last released 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 business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Boston Scientific Corporation had a net margin of 9.04% and a return on equity of 23.62%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. On average, analysts anticipate that Boston Scientific Corporation will post $1.26 earnings per share for the current fiscal year.

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In related news, EVP Michael P. Phalen sold 15,500 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $28.72, for a total transaction of $445,160.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Supratim Bose sold 347,137 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $29.12, for a total transaction of $10,108,629.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 623,455 shares of company stock worth $17,676,597. Insiders own 0.74% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in BSX. Guardian Life Insurance Co. of America lifted its position in shares of Boston Scientific Corporation by 0.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 5,266 shares of the medical equipment provider’s stock valued at $131,000 after acquiring an additional 49 shares during the period. Acrospire Investment Management LLC lifted its position in shares of Boston Scientific Corporation by 157.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock valued at $141,000 after acquiring an additional 3,100 shares during the period. Bronfman E.L. Rothschild L.P. lifted its position in shares of Boston Scientific Corporation by 14.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,761 shares of the medical equipment provider’s stock valued at $160,000 after acquiring an additional 720 shares during the period. San Francisco Sentry Investment Group CA acquired a new position in shares of Boston Scientific Corporation during the 2nd quarter valued at $191,000. Finally, Peddock Capital Advisors LLC acquired a new position in shares of Boston Scientific Corporation during the 2nd quarter valued at $201,000. Institutional investors own 90.44% of the company’s stock.

Boston Scientific Corporation Company Profile

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.

Analyst Recommendations for Boston Scientific Corporation (NYSE:BSX)

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