Oppenheimer Holdings Comments on Boston Scientific Corporation’s FY2017 Earnings (BSX)

Boston Scientific Corporation (NYSE:BSX) – Oppenheimer Holdings boosted their FY2017 earnings per share (EPS) estimates for Boston Scientific Corporation in a research report issued to clients and investors on Friday. Oppenheimer Holdings analyst S. Lichtman now expects that the medical equipment provider will post earnings per share of $1.25 for the year, up from their previous forecast of $1.24. Oppenheimer Holdings has a “Hold” rating and a $29.00 price target on the stock. Oppenheimer Holdings also issued estimates for Boston Scientific Corporation’s FY2018 earnings at $1.38 EPS.

A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Boston Scientific Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Needham & Company LLC lifted their target price on Boston Scientific Corporation from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) started coverage on Boston Scientific Corporation in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $28.00 target price on the stock. Guggenheim restated a “buy” rating on shares of Boston Scientific Corporation in a research report on Wednesday, April 12th. Finally, Evercore ISI lifted their target price on Boston Scientific Corporation from $26.50 to $28.50 and gave the company an “outperform” rating in a research report on Friday, April 28th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $30.00.

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Boston Scientific Corporation (NYSE:BSX) traded down 0.19% during trading on Monday, hitting $26.57. The stock had a trading volume of 1,264,251 shares. The firm has a 50 day moving average of $27.68 and a 200-day moving average of $25.91. Boston Scientific Corporation has a one year low of $19.67 and a one year high of $28.51. The company has a market cap of $36.41 billion, a P/E ratio of 47.53 and a beta of 1.10.

Boston Scientific Corporation (NYSE:BSX) last announced its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.21 billion. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. Boston Scientific Corporation’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS.

Several hedge funds have recently bought and sold shares of BSX. BlackRock Inc. raised its stake in Boston Scientific Corporation by 2,181.6% in the first quarter. BlackRock Inc. now owns 95,744,545 shares of the medical equipment provider’s stock valued at $2,381,169,000 after buying an additional 91,548,235 shares during the last quarter. FMR LLC raised its stake in Boston Scientific Corporation by 7.6% in the first quarter. FMR LLC now owns 184,708,390 shares of the medical equipment provider’s stock valued at $4,593,698,000 after buying an additional 13,105,596 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Boston Scientific Corporation during the first quarter valued at about $149,859,000. Marshall Wace North America L.P. purchased a new stake in Boston Scientific Corporation during the first quarter valued at about $149,859,000. Finally, Vanguard Group Inc. raised its stake in Boston Scientific Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 91,134,744 shares of the medical equipment provider’s stock valued at $2,266,521,000 after buying an additional 3,503,965 shares during the last quarter. 91.96% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Daniel J. Brennan sold 92,158 shares of the company’s stock in a transaction dated 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 directly owns 235,421 shares of the company’s stock, valued at approximately $6,469,369.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP David A. Pierce sold 2,972 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $27.70, for a total value of $82,324.40. Following the transaction, the senior vice president now directly owns 28,572 shares of the company’s stock, valued at $791,444.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,556 shares of company stock valued at $5,155,752. Insiders own 0.74% 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.

Earnings History and Estimates for Boston Scientific Corporation (NYSE:BSX)

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