Boston Scientific (NYSE:BSX) Rating Reiterated by Raymond James

Boston Scientific (NYSE:BSX – Get Rating)‘s stock had its “maintains” rating reaffirmed by investment analysts at Raymond James in a report issued on Thursday, Benzinga reports.

Several other brokerages have also recently commented on BSX. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. Canaccord Genuity Group decreased their target price on shares of Boston Scientific from $51.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. Wolfe Research started coverage on shares of Boston Scientific in a report on Tuesday, July 5th. They issued an “outperform” rating and a $43.00 target price for the company. Needham & Company LLC upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Friday, May 27th. Finally, BTIG Research raised their target price on shares of Boston Scientific from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.82.

Boston Scientific Stock Performance

NYSE:BSX opened at $41.05 on Thursday. Boston Scientific has a twelve month low of $34.98 and a twelve month high of $47.49. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $38.22 and a 200-day moving average of $41.41. The firm has a market cap of $58.68 billion, a price-to-earnings ratio of 77.45, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83.

Boston Scientific (NYSE:BSX – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The medical equipment provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. Boston Scientific had a net margin of 6.65% and a return on equity of 14.51%. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same quarter last year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that Boston Scientific will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $38.00, for a total transaction of $285,000.00. Following the transaction, the executive vice president now owns 132,413 shares of the company’s stock, valued at $5,031,694. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 22,500 shares of company stock valued at $865,725. 0.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Boston Scientific by 1.6% in the first quarter. Vanguard Group Inc. now owns 113,364,827 shares of the medical equipment provider’s stock valued at $5,020,927,000 after purchasing an additional 1,743,197 shares during the period. Geode Capital Management LLC raised its position in shares of Boston Scientific by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 22,354,168 shares of the medical equipment provider’s stock valued at $946,812,000 after purchasing an additional 375,333 shares during the period. Bank of New York Mellon Corp raised its position in shares of Boston Scientific by 14.5% in the first quarter. Bank of New York Mellon Corp now owns 16,137,330 shares of the medical equipment provider’s stock valued at $714,721,000 after purchasing an additional 2,043,094 shares during the period. Parnassus Investments LLC raised its position in shares of Boston Scientific by 1.2% in the first quarter. Parnassus Investments LLC now owns 15,734,750 shares of the medical equipment provider’s stock valued at $696,892,000 after purchasing an additional 194,219 shares during the period. Finally, Northern Trust Corp raised its position in shares of Boston Scientific by 0.3% in the first quarter. Northern Trust Corp now owns 13,867,256 shares of the medical equipment provider’s stock valued at $614,181,000 after purchasing an additional 45,404 shares during the period. Institutional investors own 90.48% of the company’s stock.

About Boston Scientific

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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.