Boston Scientific (BSX) Given “Market Perform” Rating at Stephens

Stephens reaffirmed their market perform rating on shares of Boston Scientific (NYSE:BSX) in a research report report published on Monday, The Fly reports. Stephens currently has a $40.00 target price on the medical equipment provider’s stock.

Several other research firms have also recently weighed in on BSX. Morgan Stanley lifted their price objective on shares of Boston Scientific from $33.00 to $38.00 and gave the stock an overweight rating in a research report on Thursday, July 26th. Argus lifted their price objective on shares of Boston Scientific from $41.00 to $43.00 and gave the company a buy rating in a research note on Friday, October 26th. Piper Jaffray Companies boosted their target price on shares of Boston Scientific to $38.00 and gave the stock an overweight rating in a research report on Thursday, July 26th. Guggenheim boosted their target price on shares of Boston Scientific to $45.00 and gave the stock a buy rating in a research report on Friday. Finally, Jefferies Financial Group restated a hold rating and set a $34.00 price objective on shares of Boston Scientific in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $39.12.

BSX opened at $35.29 on Monday. The company has a market cap of $51.49 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 2.44 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. Boston Scientific has a twelve month low of $24.54 and a twelve month high of $39.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 24th. The medical equipment provider reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.40 billion. Boston Scientific had a net margin of 6.93% and a return on equity of 26.44%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $0.31 earnings per share. As a group, analysts anticipate that Boston Scientific will post 1.39 earnings per share for the current year.

In other Boston Scientific news, Chairman Michael F. Mahoney sold 116,666 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $35.88, for a total transaction of $4,185,976.08. Following the transaction, the chairman now directly owns 2,023,104 shares in the company, valued at $72,588,971.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David A. Pierce sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $36.02, for a total transaction of $180,100.00. The disclosure for this sale can be found here. Insiders sold a total of 441,386 shares of company stock worth $16,373,940 over the last three months. 0.73% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of BSX. Captrust Financial Advisors lifted its stake in Boston Scientific by 103.8% in the second quarter. Captrust Financial Advisors now owns 3,129 shares of the medical equipment provider’s stock worth $102,000 after acquiring an additional 1,594 shares during the period. Quad Cities Investment Group LLC purchased a new position in shares of Boston Scientific in the 2nd quarter worth about $104,000. Kaizen Advisory LLC raised its position in shares of Boston Scientific by 146.7% in the 2nd quarter. Kaizen Advisory LLC now owns 3,299 shares of the medical equipment provider’s stock worth $108,000 after purchasing an additional 1,962 shares during the last quarter. Moody National Bank Trust Division purchased a new position in shares of Boston Scientific in the 3rd quarter worth about $108,000. Finally, Capital Guardian Trust Co. bought a new stake in Boston Scientific in the 3rd quarter worth about $110,000. Hedge funds and other institutional investors own 92.27% of the company’s stock.

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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