Boston Scientific (BSX) Receives “Buy” Rating from Canaccord Genuity

Boston Scientific (NYSE:BSX)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a research report issued on Monday. They currently have a $45.00 price target on the medical equipment provider’s stock. Canaccord Genuity’s target price suggests a potential upside of 14.56% from the stock’s previous close.

A number of other research analysts have also weighed in on BSX. Royal Bank of Canada lifted their price target on shares of Boston Scientific to $42.00 and gave the company a “top pick” rating in a research note on Monday, October 15th. Barclays started coverage on shares of Boston Scientific in a research note on Monday, October 15th. They issued an “overweight” rating and a $43.00 price target on the stock. BTIG Research reissued a “buy” rating and issued a $45.00 price objective on shares of Boston Scientific in a research report on Tuesday, October 16th. Cowen set a $42.00 price objective on shares of Boston Scientific and gave the stock a “buy” rating in a research report on Monday, October 22nd. Finally, Oppenheimer set a $38.00 price objective on shares of Boston Scientific and gave the stock a “hold” rating in a research report on Wednesday, October 24th. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. Boston Scientific presently has an average rating of “Buy” and a consensus target price of $40.46.

BSX traded up $0.09 during trading on Monday, reaching $39.28. The company had a trading volume of 218,675 shares, compared to its average volume of 7,190,464. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 0.78. Boston Scientific has a 12 month low of $25.04 and a 12 month high of $39.44. The firm has a market cap of $54.23 billion, a P/E ratio of 26.70, a PEG ratio of 2.30 and a beta of 0.83.



Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. Boston Scientific had a net margin of 17.01% and a return on equity of 26.80%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts anticipate that Boston Scientific will post 1.56 earnings per share for the current fiscal year.

In other Boston Scientific news, Director Yoshiaki Fujimori sold 6,143 shares of the company’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $37.13, for a total value of $228,089.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Maulik Nanavaty sold 23,458 shares of the company’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $37.28, for a total transaction of $874,514.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,724 shares of company stock worth $3,350,373. Corporate insiders own 0.73% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of Boston Scientific by 5.5% in the third quarter. FMR LLC now owns 165,239,463 shares of the medical equipment provider’s stock valued at $6,361,719,000 after purchasing an additional 8,617,011 shares during the last quarter. BlackRock Inc. grew its stake in shares of Boston Scientific by 3.7% in the fourth quarter. BlackRock Inc. now owns 116,508,996 shares of the medical equipment provider’s stock valued at $4,117,428,000 after acquiring an additional 4,195,164 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Boston Scientific by 1.4% in the third quarter. Vanguard Group Inc now owns 101,453,358 shares of the medical equipment provider’s stock valued at $3,905,954,000 after acquiring an additional 1,367,053 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Boston Scientific by 83.3% in the third quarter. Capital Research Global Investors now owns 19,394,528 shares of the medical equipment provider’s stock valued at $746,689,000 after acquiring an additional 8,814,601 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Boston Scientific by 7,922.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,978,846 shares of the medical equipment provider’s stock valued at $339,000 after acquiring an additional 11,829,528 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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: Cardiovascular, Rhythm Management, and MedSurg. 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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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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