Boston Scientific Corporation (BSX) Receives Hold Rating from Oppenheimer Holdings, Inc.

Boston Scientific Corporation (NYSE:BSX)‘s stock had its “hold” rating reiterated by equities researchers at Oppenheimer Holdings, Inc. in a note issued to investors on Wednesday, August 9th.

Other equities research analysts also recently issued reports about the stock. J P Morgan Chase & Co reissued an “overweight” rating and issued a $31.00 price target (up from $27.00) on shares of Boston Scientific Corporation in a report on Wednesday, June 28th. Zacks Investment Research downgraded shares of Boston Scientific Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Royal Bank Of Canada reissued a “buy” rating and issued a $31.00 price target on shares of Boston Scientific Corporation in a report on Wednesday, July 12th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $31.00 target price (up from $29.50) on shares of Boston Scientific Corporation in a research note on Friday, June 16th. Finally, BidaskClub raised shares of Boston Scientific Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Boston Scientific Corporation presently has a consensus rating of “Buy” and an average target price of $30.06.

Shares of Boston Scientific Corporation (BSX) traded up 0.94% during mid-day trading on Wednesday, reaching $26.89. 5,850,175 shares of the company’s stock traded hands. The firm has a 50-day moving average of $27.16 and a 200 day moving average of $26.15. The company has a market cap of $36.90 billion, a P/E ratio of 48.10 and a beta of 1.09. Boston Scientific Corporation has a 12-month low of $19.67 and a 12-month high of $28.51.

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

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In other news, SVP John Bradley Sorenson sold 7,900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $26.37, for a total value of $208,323.00. Following the transaction, the senior vice president now owns 21,680 shares in the company, valued at $571,701.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel J. Brennan sold 92,158 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $27.48, for a total transaction of $2,532,501.84. Following the completion of the transaction, the chief financial officer now owns 235,421 shares in the company, valued at approximately $6,469,369.08. The disclosure for this sale can be found here. Insiders sold 207,625 shares of company stock worth $5,686,383 in the last 90 days. Company insiders own 0.74% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Gulf International Bank UK Ltd boosted its position in shares of Boston Scientific Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 415,615 shares of the medical equipment provider’s stock valued at $10,336,000 after buying an additional 5,400 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in 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 valued at $122,000 after buying an additional 487 shares during the period. National Pension Service boosted its stake in Boston Scientific Corporation by 0.6% in the first quarter. National Pension Service now owns 1,058,667 shares of the medical equipment provider’s stock valued at $25,884,000 after buying an additional 6,634 shares during the period. Bank of Montreal Can boosted its stake in Boston Scientific Corporation by 2.3% in the first quarter. Bank of Montreal Can now owns 511,136 shares of the medical equipment provider’s stock valued at $12,711,000 after buying an additional 11,611 shares during the period. Finally, Private Wealth Partners LLC boosted its stake in Boston Scientific Corporation by 3.4% in the first quarter. Private Wealth Partners LLC now owns 207,266 shares of the medical equipment provider’s stock valued at $5,155,000 after buying an additional 6,796 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.

About Boston Scientific Corporation

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.

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