Boston Scientific Corporation (BSX) Reaches New 12-Month High at $29.44
Boston Scientific Corporation (NYSE:BSX) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $29.44 and last traded at $29.47, with a volume of 5,815,191 shares trading hands. The stock had previously closed at $29.17.
A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of Boston Scientific Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. J P Morgan Chase & Co restated an “overweight” rating and set a $31.00 target price (up from $27.00) on shares of Boston Scientific Corporation in a research report on Wednesday, June 28th. Royal Bank Of Canada restated a “buy” rating and set a $31.00 target price on shares of Boston Scientific Corporation in a research report on Wednesday, July 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of Boston Scientific Corporation in a report on Tuesday. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $31.00 price target (up previously from $29.50) on shares of Boston Scientific Corporation in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $30.12.
The company has a market capitalization of $39.82 billion, a P/E ratio of 51.91 and a beta of 1.09. The firm’s 50 day moving average price is $28.06 and its 200 day moving average price is $26.92.
Boston Scientific Corporation (NYSE:BSX) last posted its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities research analysts forecast that Boston Scientific Corporation will post $1.26 earnings per share for the current fiscal year.
In other Boston Scientific Corporation news, SVP Wendy Carruthers sold 12,433 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $26.75, for a total transaction of $332,582.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Bradley Sorenson sold 2,100 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $27.15, for a total transaction of $57,015.00. Following the transaction, the senior vice president now directly owns 18,880 shares of the company’s stock, valued at approximately $512,592. The disclosure for this sale can be found here. Insiders have sold a total of 276,318 shares of company stock valued at $7,567,967 over the last three months. Corporate insiders own 0.74% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in BSX. UBS Asset Management Americas Inc. boosted its position in shares of Boston Scientific Corporation by 9.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 3,435,806 shares of the medical equipment provider’s stock worth $85,448,000 after purchasing an additional 286,705 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Boston Scientific Corporation in the 1st quarter valued at approximately $215,000. Schroder Investment Management Group increased its holdings in Boston Scientific Corporation by 17.6% in the 1st quarter. Schroder Investment Management Group now owns 266,557 shares of the medical equipment provider’s stock valued at $6,517,000 after purchasing an additional 39,931 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Boston Scientific Corporation in the 1st quarter valued at approximately $231,000. Finally, Tredje AP fonden increased its holdings in Boston Scientific Corporation by 9.0% in the 1st quarter. Tredje AP fonden now owns 168,096 shares of the medical equipment provider’s stock valued at $4,181,000 after purchasing an additional 13,824 shares during the last quarter. 90.44% of the stock is currently owned by institutional investors and hedge funds.
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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.
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