Sanford C. Bernstein initiated coverage on shares of Boston Scientific (NYSE:BSX) in a research report released on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $38.00 target price on the medical equipment provider’s stock.
A number of other equities research analysts have also weighed in on BSX. Royal Bank of Canada restated a top pick rating and issued a $32.00 target price on shares of Boston Scientific in a report on Monday, March 5th. ValuEngine lowered shares of Boston Scientific from a buy rating to a hold rating in a report on Wednesday, March 7th. TheStreet lowered shares of Boston Scientific from a b rating to a c rating in a report on Monday, March 5th. Morgan Stanley upped their target price on shares of Boston Scientific from $30.00 to $33.00 and gave the stock an overweight rating in a report on Monday, March 19th. Finally, Needham & Company LLC restated a buy rating and issued a $35.00 target price on shares of Boston Scientific in a report on Tuesday, March 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company. Boston Scientific currently has an average rating of Buy and an average target price of $32.70.
Shares of NYSE BSX opened at $32.70 on Wednesday. Boston Scientific has a 1-year low of $24.54 and a 1-year high of $37.30. The stock has a market cap of $44.84 billion, a PE ratio of 25.95, a P/E/G ratio of 2.32 and a beta of 0.77. The company has a current ratio of 0.82, a quick ratio of 0.59 and a debt-to-equity ratio of 0.68.
In other Boston Scientific news, SVP Jeffrey B. Mirviss sold 19,323 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $32.64, for a total value of $630,702.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David A. Pierce sold 1,650 shares of the stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $30.83, for a total transaction of $50,869.50. The disclosure for this sale can be found here. Insiders sold a total of 163,030 shares of company stock valued at $5,211,897 over the last ninety days. 0.73% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Rampart Investment Management Company LLC grew its position in shares of Boston Scientific by 230.9% during the 1st quarter. Rampart Investment Management Company LLC now owns 55,820 shares of the medical equipment provider’s stock valued at $1,525,000 after acquiring an additional 38,950 shares during the period. LPL Financial LLC grew its position in shares of Boston Scientific by 20.3% during the 4th quarter. LPL Financial LLC now owns 131,649 shares of the medical equipment provider’s stock valued at $3,264,000 after acquiring an additional 22,216 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Boston Scientific by 61.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 937,527 shares of the medical equipment provider’s stock valued at $23,241,000 after acquiring an additional 356,701 shares during the period. HBK Investments L P bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $2,516,000. Finally, Caxton Associates LP bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $1,115,000. 89.12% of the stock is owned by hedge funds and other institutional investors.
Boston Scientific Company Profile
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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