SunTrust Banks Analysts Give Boston Scientific (BSX) a $33.00 Price Target

SunTrust Banks set a $33.00 price target on Boston Scientific (NYSE:BSX) in a report published on Monday. The firm currently has a buy rating on the medical equipment provider’s stock.

BSX has been the topic of several other reports. BidaskClub lowered shares of Boston Scientific from a hold rating to a sell rating in a research note on Saturday, August 26th. BMO Capital Markets increased their price target on shares of Boston Scientific from $30.00 to $32.00 and gave the company an outperform rating in a research note on Friday, October 27th. Stifel Nicolaus reiterated a buy rating and issued a $32.00 price target on shares of Boston Scientific in a research note on Monday, September 25th. Royal Bank Of Canada reiterated a buy rating and issued a $31.00 price target on shares of Boston Scientific in a research note on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Boston Scientific from a sell rating to a buy rating and set a $33.00 price target on the stock in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $30.97.

Boston Scientific (NYSE:BSX) opened at $25.24 on Monday. The company has a market cap of $34,192.58, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. Boston Scientific has a one year low of $20.36 and a one year high of $29.93. The company has a quick ratio of 0.50, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.

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

In related news, insider Valley Gold Master Fund L. Sun purchased 408,006 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was purchased at an average cost of $0.45 per share, with a total value of $183,602.70. Also, EVP Timothy A. Pratt sold 10,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 164,681 shares of the company’s stock, valued at $4,647,297.82. The disclosure for this sale can be found here. Insiders sold 424,698 shares of company stock valued at $12,273,553 over the last three months. Corporate insiders own 0.74% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Securities Inc. lifted its holdings in shares of Boston Scientific by 0.9% during the second quarter. Comerica Securities Inc. now owns 11,478 shares of the medical equipment provider’s stock worth $318,000 after purchasing an additional 99 shares during the period. ETRADE Capital Management LLC lifted its holdings in Boston Scientific by 1.7% in the second quarter. ETRADE Capital Management LLC now owns 10,079 shares of the medical equipment provider’s stock valued at $279,000 after acquiring an additional 171 shares during the period. Krilogy Financial LLC lifted its holdings in Boston Scientific by 5.9% in the second quarter. Krilogy Financial LLC now owns 7,680 shares of the medical equipment provider’s stock valued at $213,000 after acquiring an additional 430 shares during the period. Wetherby Asset Management Inc. lifted its holdings in Boston Scientific by 3.9% in the second quarter. Wetherby Asset Management Inc. now owns 13,788 shares of the medical equipment provider’s stock valued at $382,000 after acquiring an additional 523 shares during the period. Finally, Greenwood Capital Associates LLC lifted its holdings in Boston Scientific by 1.1% in the second quarter. Greenwood Capital Associates LLC now owns 53,330 shares of the medical equipment provider’s stock valued at $1,478,000 after acquiring an additional 564 shares during the period. 90.57% 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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