Boston Scientific Corporation (BSX) Given a $29.00 Price Target by Oppenheimer Holdings, Inc. Analysts
Oppenheimer Holdings, Inc. set a $29.00 price objective on Boston Scientific Corporation (NYSE:BSX) in a report released on Friday morning. The firm currently has a hold rating on the medical equipment provider’s stock. Oppenheimer Holdings also issued estimates for Boston Scientific Corporation’s FY2017 earnings at $1.25 EPS and FY2018 earnings at $1.38 EPS.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Boston Scientific Corporation from a hold rating to a sell rating in a research note on Wednesday, April 5th. Jefferies Group LLC raised their price target on Boston Scientific Corporation from $26.00 to $28.00 and gave the stock a hold rating in a research note on Friday, April 7th. Guggenheim reaffirmed a buy rating on shares of Boston Scientific Corporation in a research note on Wednesday, April 12th. TheStreet raised Boston Scientific Corporation from a c+ rating to a b rating in a research note on Tuesday, April 25th. Finally, Needham & Company LLC reissued a buy rating and issued a $30.00 price objective (up from $29.00) on shares of Boston Scientific Corporation in a research note on Thursday, April 27th. One 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. Boston Scientific Corporation presently has an average rating of Buy and an average target price of $30.00.
Shares of Boston Scientific Corporation (NYSE BSX) opened at 26.62 on Friday. The stock has a market capitalization of $36.48 billion, a price-to-earnings ratio of 47.62 and a beta of 1.10. Boston Scientific Corporation has a 52-week low of $19.67 and a 52-week high of $28.51. The company has a 50 day moving average of $27.68 and a 200 day moving average of $25.91.
Boston Scientific Corporation (NYSE:BSX) last announced its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.21 billion. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS. Analysts predict that Boston Scientific Corporation will post $1.25 EPS for the current fiscal year.
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In other Boston Scientific Corporation news, CFO Daniel J. Brennan sold 92,158 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $27.48, for a total value of $2,532,501.84. Following the sale, the chief financial officer now owns 235,421 shares in the company, valued at $6,469,369.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin J. Ballinger sold 28,864 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $26.14, for a total value of $754,504.96. The disclosure for this sale can be found here. Insiders sold 188,556 shares of company stock worth $5,155,752 in the last 90 days. Corporate insiders own 0.74% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its stake in Boston Scientific Corporation by 10.3% in the first quarter. Quadrant Capital Group LLC now owns 5,201 shares of the medical equipment provider’s stock valued at $122,000 after buying an additional 487 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Boston Scientific Corporation by 7.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,041 shares of the medical equipment provider’s stock valued at $125,000 after buying an additional 338 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in Boston Scientific Corporation by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 5,266 shares of the medical equipment provider’s stock valued at $131,000 after buying an additional 49 shares in the last quarter. Commerce Bank acquired a new stake in Boston Scientific Corporation during the first quarter valued at about $207,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Boston Scientific Corporation during the first quarter valued at about $215,000. Hedge funds and other institutional investors own 91.96% of the company’s stock.
About Boston Scientific Corporation
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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