Boston Scientific (BSX) Receives “Hold” Rating from Oppenheimer

Oppenheimer restated their hold rating on shares of Boston Scientific (NYSE:BSX) in a report published on Wednesday.

A number of other research analysts also recently weighed in on the company. Canaccord Genuity dropped their price target on Boston Scientific from $36.00 to $35.00 and set a buy rating on the stock in a research note on Wednesday. Royal Bank Of Canada reaffirmed a buy rating and set a $31.00 price target on shares of Boston Scientific in a research note on Tuesday, November 7th. SunTrust Banks set a $34.00 price target on Boston Scientific and gave the stock a buy rating in a research note on Tuesday, October 31st. Zacks Investment Research downgraded Boston Scientific from a buy rating to a hold rating in a research note on Monday, October 30th. Finally, BMO Capital Markets upped their price target on Boston Scientific from $30.00 to $32.00 and gave the stock an outperform rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Boston Scientific currently has an average rating of Buy and an average price target of $30.61.

Boston Scientific (NYSE:BSX) opened at $26.15 on Wednesday. Boston Scientific has a 52 week low of $20.03 and a 52 week high of $29.93. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.72. The firm has a market capitalization of $35,909.07, a P/E ratio of 21.43, a P/E/G ratio of 2.02 and a beta of 0.96.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. Boston Scientific had a return on equity of 23.60% and a net margin of 9.55%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the business earned $0.27 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. analysts anticipate that Boston Scientific will post 1.25 earnings per share for the current year.

In other news, EVP Timothy A. Pratt sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $28.22, for a total value of $282,200.00. Following the completion of the sale, the executive vice president now directly owns 164,681 shares of the company’s stock, valued at $4,647,297.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Pratt sold 11,061 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $29.24, for a total value of $323,423.64. Following the completion of the sale, the executive vice president now directly owns 174,681 shares of the company’s stock, valued at $5,107,672.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 414,698 shares of company stock valued at $12,013,153. Company insiders own 0.74% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in shares of Boston Scientific by 22,491.6% in 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 acquiring an additional 38,690,577 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Boston Scientific by 405.3% in the second quarter. Jennison Associates LLC now owns 10,639,290 shares of the medical equipment provider’s stock valued at $294,921,000 after acquiring an additional 8,533,655 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Boston Scientific by 4.6% in 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 acquiring an additional 4,439,966 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Boston Scientific by 35,016.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,042,464 shares of the medical equipment provider’s stock valued at $84,337,000 after acquiring an additional 3,033,800 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Boston Scientific by 149.1% in the third quarter. Prudential Financial Inc. now owns 4,762,674 shares of the medical equipment provider’s stock valued at $138,928,000 after acquiring an additional 2,850,630 shares in the last quarter. 90.55% of the stock is owned by hedge funds and other institutional investors.

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Boston Scientific 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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