Jefferies Group Weighs in on Boston Scientific Corporation’s FY2019 Earnings (BSX)
Boston Scientific Corporation (NYSE:BSX) – Analysts at Jefferies Group reduced their FY2019 earnings estimates for Boston Scientific in a research note issued to investors on Wednesday. Jefferies Group analyst R. Denhoy now expects that the medical equipment provider will earn $1.49 per share for the year, down from their prior estimate of $1.51. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Boston Scientific’s FY2020 earnings at $1.63 EPS.
BSX has been the topic of several other reports. BidaskClub downgraded shares of Boston Scientific from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. BMO Capital Markets lifted their target price on shares of Boston Scientific from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 target price on shares of Boston Scientific in a research report on Monday, September 25th. Royal Bank Of Canada reissued a “buy” rating and issued a $31.00 target price on shares of Boston Scientific in a research report on Friday, September 1st. Finally, Zacks Investment Research raised shares of Boston Scientific from a “sell” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. Boston Scientific presently has a consensus rating of “Buy” and a consensus target price of $30.97.
Boston Scientific (NYSE:BSX) traded up $0.30 during trading on Monday, hitting $25.24. 12,018,645 shares of the stock traded hands, compared to its average volume of 6,967,069. The stock has a market capitalization of $34,192.58, a P/E ratio of 20.41, a P/E/G ratio of 1.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.72. Boston Scientific has a 1-year low of $20.36 and a 1-year high of $29.93.
Boston Scientific (NYSE:BSX) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.21 billion. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share.
In other Boston Scientific news, EVP Timothy A. Pratt sold 11,061 shares of Boston Scientific stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $29.24, for a total value of $323,423.64. Following the completion of the sale, the executive vice president now directly owns 174,681 shares in the company, valued at $5,107,672.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael P. Phalen sold 15,500 shares of Boston Scientific stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $28.72, for a total transaction of $445,160.00. The disclosure for this sale can be found here. Insiders have sold 424,698 shares of company stock worth $12,273,553 over the last ninety days. 0.74% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC acquired a new stake in Boston Scientific in the third quarter valued at approximately $138,000. Steward Partners Investment Advisory LLC acquired a new stake in Boston Scientific in the third quarter valued at approximately $139,000. Acrospire Investment Management LLC lifted its stake in Boston Scientific by 157.3% in the second 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 last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Boston Scientific by 14.3% in the second 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 last quarter. Finally, San Francisco Sentry Investment Group CA acquired a new stake in shares of Boston Scientific in the second quarter worth $191,000. Hedge funds and other institutional investors own 90.57% of the company’s stock.
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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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