Boston Scientific Corporation (BSX) Given a $34.00 Price Target at SunTrust Banks, Inc.

Boston Scientific Corporation (NYSE:BSX) has been assigned a $34.00 target price by stock analysts at SunTrust Banks, Inc. in a research report issued on Tuesday. The firm currently has a “buy” rating on the medical equipment provider’s stock. SunTrust Banks, Inc.’s price objective points to a potential upside of 20.82% from the stock’s current price. SunTrust Banks also issued estimates for Boston Scientific Corporation’s Q1 2018 earnings at $0.33 EPS, Q3 2018 earnings at $0.34 EPS and FY2018 earnings at $1.43 EPS.

Several other brokerages have also recently commented on BSX. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price target on shares of Boston Scientific Corporation in a research report on Sunday, July 30th. Jefferies Group LLC reissued a “hold” rating on shares of Boston Scientific Corporation in a research report on Thursday, September 7th. BMO Capital Markets reissued a “buy” rating and set a $30.00 price target on shares of Boston Scientific Corporation in a research report on Friday, October 13th. Canaccord Genuity initiated coverage on Boston Scientific Corporation in a research report on Tuesday, October 24th. They set a “buy” rating and a $36.00 price target for the company. Finally, Zacks Investment Research cut Boston Scientific Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $30.77.

Shares of Boston Scientific Corporation (NYSE BSX) traded down 0.906% during midday trading on Tuesday, hitting $27.885. The stock had a trading volume of 4,391,622 shares. Boston Scientific Corporation has a one year low of $19.67 and a one year high of $29.93. The company has a market capitalization of $38.26 billion, a PE ratio of 49.884 and a beta of 1.09. The firm’s 50-day moving average is $29.11 and its 200 day moving average is $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, hitting the consensus estimate of $0.31. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Boston Scientific Corporation had a return on equity of 23.60% and a net margin of 9.55%. Boston Scientific Corporation’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities analysts expect that Boston Scientific Corporation will post $1.26 earnings per share for the current fiscal year.

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In other news, EVP Supratim Bose sold 347,137 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $29.12, for a total transaction of $10,108,629.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Wendy Carruthers sold 12,433 shares of the 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 511,297 shares of company stock worth $14,632,052. 0.74% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in BSX. Janus Henderson Group PLC increased its stake 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 worth $1,077,270,000 after purchasing an additional 38,690,577 shares during the period. Jennison Associates LLC increased its stake in shares of Boston Scientific Corporation by 405.3% during the second quarter. Jennison Associates LLC now owns 10,639,290 shares of the medical equipment provider’s stock worth $294,921,000 after purchasing an additional 8,533,655 shares during the period. BlackRock Inc. increased its stake 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 worth $2,777,113,000 after purchasing an additional 4,439,966 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Boston Scientific Corporation by 35,016.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,042,464 shares of the medical equipment provider’s stock worth $84,337,000 after purchasing an additional 3,033,800 shares during the period. Finally, Vanguard Group Inc. increased its stake 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 worth $2,596,181,000 after purchasing an additional 2,522,556 shares during the period. Institutional investors own 90.47% 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.

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