Boston Scientific (BSX) Upgraded to Top Pick at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Boston Scientific (NYSE:BSX) from an outperform rating to a top pick rating in a research note published on Friday.

A number of other analysts have also recently issued reports on BSX. Jefferies Group restated a hold rating on shares of Boston Scientific in a research report on Thursday, September 7th. Stifel Nicolaus reiterated a buy rating and issued a $32.00 price target on shares of Boston Scientific in a research report on Monday, September 25th. SunTrust Banks reiterated a buy rating and issued a $34.00 price target on shares of Boston Scientific in a research report on Monday, October 2nd. Needham & Company LLC reiterated a buy rating and issued a $32.00 price target on shares of Boston Scientific in a research report on Tuesday, October 3rd. Finally, BMO Capital Markets reiterated a buy rating and issued a $30.00 price target on shares of Boston Scientific in a research report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Boston Scientific has an average rating of Buy and an average target price of $30.94.

Shares of Boston Scientific (NYSE BSX) opened at $25.97 on Friday. The stock has a market capitalization of $34,769.32, a P/E ratio of 42.57, a PEG ratio of 1.77 and a beta of 0.96. The company has a current ratio of 0.72, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58. Boston Scientific has a 1 year low of $21.95 and a 1 year high of $29.93.

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

In other news, 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 transaction of $282,200.00. Following the sale, the executive vice president now owns 164,681 shares in the company, valued at $4,647,297.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael P. Phalen sold 15,500 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $28.42, for a total value of $440,510.00. The disclosure for this sale can be found here. Insiders have sold 82,670 shares of company stock worth $2,196,008 in the last 90 days. Company insiders own 0.74% of the company’s stock.

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 third quarter worth $138,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Boston Scientific during the third quarter valued at $139,000. Acrospire Investment Management LLC lifted its stake in shares of Boston Scientific by 157.3% during the second quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock valued at $141,000 after acquiring an additional 3,100 shares during the period. San Francisco Sentry Investment Group CA acquired a new position in shares of Boston Scientific during the second quarter valued at $191,000. Finally, Ironwood Investment Counsel LLC acquired a new position in shares of Boston Scientific during the third quarter valued at $204,000. Institutional investors own 90.36% of the company’s stock.

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About Boston Scientific

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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