Boston Scientific Corporation (BSX) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Boston Scientific Corporation (NYSE:BSX) from a hold rating to a sell rating in a report published on Tuesday, July 11th.

According to Zacks, “Over the past one month, Boston Scientific was trading below the Zacks categorized broader Medical Products industry. Adverse foreign exchange continues to pose challenges for Boston Scientific. We are concerned with the company’s recall of one of its prime products, Lotus range of heart devices. Also dull defibrillator sale within core CRM continues to remain a drag for the overall growth. The woes of challenging economy and competitive landscape continue to weigh the stock. However, on the positive side, the company is leaving no stone unturned to strengthen its core businesses and invest in innovations and global markets. The company recently received CE mark for its Vercise Gevia DBS System which is expected to boost its European business. The increased top line guidance for 2017 also buoys optimism.”

Several other analysts have also issued reports on BSX. TheStreet lowered shares of Boston Scientific Corporation from a b rating to a c+ rating in a report on Thursday, March 16th. Jefferies Group LLC boosted their price objective on shares of Boston Scientific Corporation from $26.00 to $28.00 and gave the company a hold rating in a report on Friday, April 7th. Guggenheim restated a buy rating on shares of Boston Scientific Corporation in a report on Wednesday, April 12th. Needham & Company LLC restated a buy rating and issued a $30.00 price objective (up from $29.00) on shares of Boston Scientific Corporation in a report on Thursday, April 27th. Finally, Oppenheimer Holdings, Inc. set a $27.00 price objective on shares of Boston Scientific Corporation and gave the company a hold rating in a report on Friday, April 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $30.06.

Boston Scientific Corporation (NYSE:BSX) traded up 0.57% on Tuesday, hitting $26.41. 3,285,998 shares of the stock were exchanged. The firm has a market cap of $36.24 billion, a PE ratio of 47.25 and a beta of 1.09. Boston Scientific Corporation has a 52-week low of $19.67 and a 52-week high of $28.51. The stock’s 50 day moving average price is $27.34 and its 200 day moving average price is $26.04.

Boston Scientific Corporation (NYSE:BSX) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.21 billion. Boston Scientific Corporation had a net margin of 9.04% and a return on equity of 23.62%. Boston Scientific Corporation’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. Equities research analysts forecast that Boston Scientific Corporation will post $1.26 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This piece of content was posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.com-unik.info/2017/08/12/boston-scientific-corporation-bsx-rating-lowered-to-sell-at-zacks-investment-research-updated-updated-updated.html.

In related news, SVP Wendy Carruthers sold 12,433 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $26.75, for a total value of $332,582.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin J. Ballinger sold 28,864 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $26.14, for a total value of $754,504.96. The disclosure for this sale can be found here. Insiders sold 236,489 shares of company stock valued at $6,440,888 over the last ninety days. 0.74% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Boston Scientific Corporation by 7.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,041 shares of the medical equipment provider’s stock worth $125,000 after buying an additional 338 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Boston Scientific Corporation by 157.3% in the second quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock worth $141,000 after buying an additional 3,100 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Boston Scientific Corporation by 10.3% in the first quarter. Quadrant Capital Group LLC now owns 5,201 shares of the medical equipment provider’s stock worth $122,000 after buying an additional 487 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of Boston Scientific Corporation by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 5,266 shares of the medical equipment provider’s stock worth $131,000 after buying an additional 49 shares in the last quarter. Finally, Peddock Capital Advisors LLC purchased a new stake in shares of Boston Scientific Corporation during the second quarter worth $201,000. Institutional investors own 92.08% of the company’s stock.

Boston Scientific Corporation Company Profile

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.

Get a free copy of the Zacks research report on Boston Scientific Corporation (BSX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Boston Scientific Corporation (NYSE:BSX)

What are top analysts saying about Boston Scientific Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Boston Scientific Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit