Boston Scientific (NYSE:BSX) Receives “Buy” Rating from Morgan Stanley

Morgan Stanley reaffirmed their buy rating on shares of Boston Scientific (NYSE:BSX) in a research report released on Tuesday, Price Targets.com reports. Morgan Stanley currently has a $53.00 target price on the medical equipment provider’s stock.

Several other research analysts have also weighed in on BSX. Raymond James increased their target price on shares of Boston Scientific from $50.00 to $53.00 and gave the stock a strong-buy rating in a research note on Wednesday, July 28th. Needham & Company LLC set a $42.74 price objective on shares of Boston Scientific and gave the company a hold rating in a research note on Thursday, July 15th. Barclays started coverage on shares of Boston Scientific in a research note on Monday, May 24th. They issued an overweight rating and a $51.00 price objective for the company. Credit Suisse Group raised their price objective on shares of Boston Scientific from $50.00 to $52.00 and gave the company an outperform rating in a research note on Wednesday, July 28th. Finally, TheStreet lowered shares of Boston Scientific from a b rating to a c+ rating in a research note on Tuesday, July 27th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $48.65.

Boston Scientific stock opened at $43.36 on Tuesday. Boston Scientific has a 12-month low of $32.99 and a 12-month high of $46.28. The stock has a market cap of $61.74 billion, a P/E ratio of 131.40, a PEG ratio of 2.93 and a beta of 0.88. The company has a 50-day moving average price of $44.37 and a 200 day moving average price of $42.51. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 0.55.

Boston Scientific (NYSE:BSX) last announced its earnings results on Monday, July 26th. The medical equipment provider reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.94 billion. Boston Scientific had a net margin of 4.56% and a return on equity of 12.67%. Boston Scientific’s revenue was up 53.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 earnings per share. As a group, analysts forecast that Boston Scientific will post 1.61 EPS for the current year.

In other news, CEO Michael F. Mahoney sold 201,041 shares of Boston Scientific stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $43.41, for a total value of $8,727,189.81. Following the transaction, the chief executive officer now directly owns 2,081,822 shares of the company’s stock, valued at approximately $90,371,893.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Wendy Carruthers sold 3,321 shares of Boston Scientific stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $42.42, for a total transaction of $140,876.82. Following the completion of the transaction, the senior vice president now owns 171,216 shares in the company, valued at $7,262,982.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 598,331 shares of company stock worth $26,447,002. 0.71% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of BSX. Scotia Capital Inc. boosted its position in shares of Boston Scientific by 26.5% during the 1st quarter. Scotia Capital Inc. now owns 19,667 shares of the medical equipment provider’s stock worth $760,000 after purchasing an additional 4,118 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Boston Scientific by 4.1% during the 1st quarter. Alliancebernstein L.P. now owns 2,082,325 shares of the medical equipment provider’s stock worth $80,482,000 after purchasing an additional 81,544 shares in the last quarter. Keybank National Association OH boosted its position in shares of Boston Scientific by 11.2% during the 1st quarter. Keybank National Association OH now owns 8,067 shares of the medical equipment provider’s stock worth $312,000 after purchasing an additional 810 shares in the last quarter. IndexIQ Advisors LLC purchased a new stake in shares of Boston Scientific in the 1st quarter worth about $69,000. Finally, Thompson Siegel & Walmsley LLC boosted its position in shares of Boston Scientific by 6.2% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 10,622 shares of the medical equipment provider’s stock worth $411,000 after buying an additional 622 shares in the last quarter. Institutional investors own 89.80% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.

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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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