Boston Scientific (NYSE:BSX) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Boston Scientific (NYSE:BSX) in a research report sent to investors on Wednesday morning, TipRanks reports. Needham & Company LLC currently has a $50.00 price target on the medical equipment provider’s stock.

A number of other analysts also recently weighed in on the company. Wells Fargo & Co lifted their price target on Boston Scientific from $40.00 to $41.00 and gave the company an overweight rating in a research note on Thursday, April 30th. CSFB lifted their price target on Boston Scientific from $42.00 to $43.00 and gave the company an outperform rating in a research note on Thursday, April 30th. Credit Suisse Group lifted their price target on Boston Scientific from $42.00 to $43.00 and gave the company an outperform rating in a research note on Thursday, April 30th. Citigroup lifted their price target on Boston Scientific from $40.00 to $42.00 and gave the company a buy rating in a research note on Thursday, April 30th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $45.00 price objective on shares of Boston Scientific in a report on Wednesday, June 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $44.71.

Shares of BSX stock opened at $38.57 on Wednesday. The business’s 50 day moving average is $36.11 and its two-hundred day moving average is $37.19. Boston Scientific has a twelve month low of $24.10 and a twelve month high of $46.62. The company has a market capitalization of $53.97 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 3.98 and a beta of 0.92. The company has a current ratio of 1.21, a quick ratio of 0.80 and a debt-to-equity ratio of 0.68.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.12. Boston Scientific had a return on equity of 13.68% and a net margin of 39.18%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the business posted $0.39 EPS. The company’s revenue was down 23.9% on a year-over-year basis. As a group, equities analysts predict that Boston Scientific will post 0.92 earnings per share for the current fiscal year.

In related news, EVP David A. Pierce sold 2,170 shares of the business’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $38.00, for a total value of $82,460.00. Following the completion of the sale, the executive vice president now directly owns 9,401 shares in the company, valued at $357,238. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. NewSquare Capital LLC purchased a new stake in shares of Boston Scientific during the 1st quarter valued at $25,000. Global Retirement Partners LLC boosted its holdings in Boston Scientific by 75.0% in the second quarter. Global Retirement Partners LLC now owns 714 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Baystate Wealth Management LLC boosted its holdings in Boston Scientific by 7,050.0% in the second quarter. Baystate Wealth Management LLC now owns 715 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 705 shares during the last quarter. Key Financial Inc acquired a new position in Boston Scientific in the first quarter valued at $28,000. Finally, Ellevest Inc. boosted its holdings in Boston Scientific by 129.8% in the first quarter. Ellevest Inc. now owns 1,018 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 575 shares during the last quarter. Institutional investors own 89.97% 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: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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