Boston Scientific’s (BSX) “Buy” Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of Boston Scientific (NYSE:BSX) in a research report report published on Friday. They currently have a $48.00 price target on the medical equipment provider’s stock.

BSX has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Boston Scientific from a sell rating to a hold rating in a research note on Monday, January 7th. BTIG Research restated a buy rating and set a $45.00 target price on shares of Boston Scientific in a research note on Tuesday, October 16th. Oppenheimer set a $38.00 target price on shares of Boston Scientific and gave the company a hold rating in a research note on Wednesday, October 24th. Canaccord Genuity lifted their target price on shares of Boston Scientific from $40.00 to $42.00 and gave the company a buy rating in a research note on Thursday, October 25th. Finally, Cowen set a $42.00 target price on shares of Boston Scientific and gave the company a buy rating in a research note on Monday, October 22nd. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $40.35.

BSX opened at $39.19 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 0.78. Boston Scientific has a fifty-two week low of $25.04 and a fifty-two week high of $39.44. The firm has a market cap of $54.23 billion, a P/E ratio of 26.66, a PEG ratio of 2.30 and a beta of 0.83.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Boston Scientific had a net margin of 17.01% and a return on equity of 26.80%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the company earned $0.34 EPS. Boston Scientific’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities analysts expect that Boston Scientific will post 1.56 earnings per share for the current year.

In other news, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $38.11, for a total value of $190,550.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin J. Ballinger sold 14,740 shares of the business’s stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $33.65, for a total transaction of $496,001.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,724 shares of company stock worth $3,350,373. Corporate insiders own 0.73% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Boston Scientific by 5.5% in the 3rd quarter. FMR LLC now owns 165,239,463 shares of the medical equipment provider’s stock worth $6,361,719,000 after buying an additional 8,617,011 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Boston Scientific by 3.7% in the 4th quarter. BlackRock Inc. now owns 116,508,996 shares of the medical equipment provider’s stock worth $4,117,428,000 after buying an additional 4,195,164 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Boston Scientific by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 101,453,358 shares of the medical equipment provider’s stock worth $3,905,954,000 after buying an additional 1,367,053 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Boston Scientific by 83.3% in the 3rd quarter. Capital Research Global Investors now owns 19,394,528 shares of the medical equipment provider’s stock worth $746,689,000 after buying an additional 8,814,601 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Boston Scientific by 7,922.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,978,846 shares of the medical equipment provider’s stock worth $339,000 after buying an additional 11,829,528 shares during the last quarter. Hedge funds and other institutional investors own 90.80% of the company’s stock.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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