Boston Scientific (BSX) Receives “Buy” Rating from BMO Capital Markets

BMO Capital Markets reiterated their buy rating on shares of Boston Scientific (NYSE:BSX) in a research report sent to investors on Tuesday morning. They currently have a $32.00 target price on the medical equipment provider’s stock.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada restated a buy rating and issued a $31.00 target price on shares of Boston Scientific in a research note on Friday, September 1st. Canaccord Genuity started coverage on Boston Scientific in a research note on Tuesday, October 24th. They issued a buy rating and a $36.00 target price on the stock. Zacks Investment Research upgraded Boston Scientific from a sell rating to a buy rating and set a $33.00 target price on the stock in a research note on Friday, October 20th. Needham & Company LLC restated a buy rating and issued a $32.00 target price on shares of Boston Scientific in a research note on Tuesday, October 3rd. Finally, SunTrust Banks restated a buy rating and issued a $34.00 target price on shares of Boston Scientific in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $31.03.

Shares of Boston Scientific (NYSE BSX) traded up $0.11 during midday trading on Tuesday, reaching $25.61. The company’s stock had a trading volume of 11,201,600 shares, compared to its average volume of 7,036,959. 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 has a 1 year low of $21.03 and a 1 year high of $29.93. The stock has a market capitalization of $35,016.50, a P/E ratio of 20.90, a P/E/G ratio of 1.97 and a beta of 0.96.

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

In other Boston Scientific news, insider Valley Gold Master Fund L. Sun acquired 408,006 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was acquired at an average price of $0.45 per share, with a total value of $183,602.70. Also, EVP Timothy A. Pratt sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $28.22, for a total value of $282,200.00. Following the transaction, the executive vice president now directly owns 164,681 shares of the company’s stock, valued at approximately $4,647,297.82. The disclosure for this sale can be found here. Insiders have sold a total of 424,698 shares of company stock valued at $12,273,553 in the last three months. 0.74% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NGAM Advisors L.P. increased its stake in Boston Scientific by 12.4% during the second quarter. NGAM Advisors L.P. now owns 49,840 shares of the medical equipment provider’s stock valued at $1,382,000 after acquiring an additional 5,513 shares during the period. IFP Advisors Inc increased its stake in Boston Scientific by 30.4% during the second quarter. IFP Advisors Inc now owns 9,077 shares of the medical equipment provider’s stock valued at $252,000 after acquiring an additional 2,114 shares during the period. Global X Management Co. LLC increased its stake in Boston Scientific by 29.2% during the second quarter. Global X Management Co. LLC now owns 24,843 shares of the medical equipment provider’s stock valued at $689,000 after acquiring an additional 5,610 shares during the period. Wetherby Asset Management Inc. increased its stake in Boston Scientific by 3.9% during 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, First Trust Advisors LP increased its stake in Boston Scientific by 369.0% during the second quarter. First Trust Advisors LP now owns 837,902 shares of the medical equipment provider’s stock valued at $23,227,000 after acquiring an additional 659,255 shares during the period. 90.57% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Boston Scientific (NYSE:BSX)

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