Boston Scientific Corporation (NYSE:BSX) – Investment analysts at Leerink Swann reduced their Q4 2017 earnings per share (EPS) estimates for shares of Boston Scientific in a report released on Wednesday. Leerink Swann analyst D. Antalffy now forecasts that the medical equipment provider will earn $0.33 per share for the quarter, down from their previous forecast of $0.34.
Several other research analysts also recently commented on BSX. Cowen set a $31.00 target price on shares of Boston Scientific and gave the stock a “buy” rating in a research note on Thursday, November 30th. SunTrust Banks set a $33.00 target price on shares of Boston Scientific and gave the stock a “buy” rating in a research note on Monday. Oppenheimer reiterated a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 29th. BMO Capital Markets reiterated a “buy” rating and issued a $31.00 price target on shares of Boston Scientific in a report on Wednesday, November 29th. Finally, BTIG Research upgraded shares of Boston Scientific from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $30.97.
Boston Scientific (NYSE:BSX) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the company. Valeo Financial Advisors LLC bought a new stake in shares of Boston Scientific during the 3rd quarter valued at $138,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Boston Scientific during the 3rd quarter valued at $139,000. Acrospire Investment Management LLC boosted its holdings in shares of Boston Scientific by 157.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock valued at $141,000 after buying an additional 3,100 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Boston Scientific by 14.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,761 shares of the medical equipment provider’s stock valued at $160,000 after buying an additional 720 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new stake in shares of Boston Scientific during the 2nd quarter valued at $191,000. Hedge funds and other institutional investors own 90.57% of the company’s stock.
In other news, EVP Timothy A. Pratt sold 11,061 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $29.24, for a total transaction of $323,423.64. Following the sale, the executive vice president now owns 174,681 shares in the company, valued at approximately $5,107,672.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Timothy A. Pratt sold 10,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $26.04, for a total transaction of $260,400.00. Following the sale, the executive vice president now owns 154,681 shares in the company, valued at approximately $4,027,893.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 424,698 shares of company stock worth $12,273,553. Company insiders own 0.74% of the company’s stock.
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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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