BMO Capital Markets Boosts Boston Scientific Corporation (BSX) Price Target to $32.00

Boston Scientific Corporation (NYSE:BSX) had its price objective raised by BMO Capital Markets from $30.00 to $32.00 in a research note released on Friday morning. BMO Capital Markets currently has an outperform rating on the medical equipment provider’s stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada reiterated a buy rating and set a $31.00 price objective on shares of Boston Scientific Corporation in a research report on Wednesday, July 12th. Cowen and Company reiterated a buy rating and set a $32.00 price objective (up previously from $31.00) on shares of Boston Scientific Corporation in a research report on Friday, July 28th. Stifel Nicolaus reiterated a buy rating and set a $32.00 price objective on shares of Boston Scientific Corporation in a research report on Sunday, July 30th. BidaskClub cut shares of Boston Scientific Corporation from a strong-buy rating to a buy rating in a research report on Thursday, July 6th. Finally, UBS AG reiterated a buy rating and set a $31.00 price objective (up previously from $30.00) on shares of Boston Scientific Corporation in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $30.77.

Shares of Boston Scientific Corporation (NYSE:BSX) opened at 28.16 on Friday. The company has a market cap of $38.64 billion, a price-to-earnings ratio of 50.38 and a beta of 1.09. Boston Scientific Corporation has a one year low of $19.67 and a one year high of $29.93. The firm has a 50-day moving average of $29.13 and a 200-day moving average of $27.58.

Boston Scientific Corporation (NYSE:BSX) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.31. Boston Scientific Corporation had a net margin of 9.55% and a return on equity of 23.60%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the business posted $0.27 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts forecast that Boston Scientific Corporation will post $1.25 EPS for the current fiscal year.

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In other Boston Scientific Corporation news, SVP John Bradley Sorenson sold 7,900 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $26.37, for a total transaction of $208,323.00. Following the transaction, the senior vice president now directly owns 21,680 shares in the company, valued at approximately $571,701.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Wendy Carruthers sold 12,433 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $26.75, for a total transaction of $332,582.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 519,197 shares of company stock worth $14,840,375. 0.74% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Capital World Investors lifted its position in shares of Boston Scientific Corporation by 1.6% during the second quarter. Capital World Investors now owns 101,914,290 shares of the medical equipment provider’s stock valued at $2,825,064,000 after buying an additional 1,611,442 shares during the last quarter. BlackRock Inc. lifted its position in shares of Boston Scientific Corporation by 4.6% during the second quarter. BlackRock Inc. now owns 100,184,511 shares of the medical equipment provider’s stock valued at $2,777,113,000 after buying an additional 4,439,966 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Boston Scientific Corporation by 2.8% during the second quarter. Vanguard Group Inc. now owns 93,657,300 shares of the medical equipment provider’s stock valued at $2,596,181,000 after buying an additional 2,522,556 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Boston Scientific Corporation by 22,491.6% during the second quarter. Janus Henderson Group PLC now owns 38,862,599 shares of the medical equipment provider’s stock valued at $1,077,270,000 after buying an additional 38,690,577 shares during the last quarter. Finally, Winslow Capital Management LLC lifted its position in shares of Boston Scientific Corporation by 21.9% during the second quarter. Winslow Capital Management LLC now owns 11,212,783 shares of the medical equipment provider’s stock valued at $310,818,000 after buying an additional 2,011,640 shares during the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

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.

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