Boston Scientific (NYSE:BSX)‘s stock had its “buy” rating restated by analysts at Guggenheim in a research report issued on Friday. They currently have a $48.00 price objective on the medical equipment provider’s stock. Guggenheim’s price objective would indicate a potential upside of 23.55% from the company’s current price.
A number of other equities analysts have also recently issued reports on the company. Barclays initiated coverage on Boston Scientific in a report on Monday, October 15th. They issued an “overweight” rating and a $43.00 target price for the company. Argus upped their target price on Boston Scientific from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, October 26th. Canaccord Genuity upped their target price on Boston Scientific from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, October 25th. BTIG Research reaffirmed a “buy” rating and issued a $45.00 target price on shares of Boston Scientific in a report on Tuesday, October 16th. Finally, UBS Group initiated coverage on Boston Scientific in a report on Tuesday, November 27th. They issued a “buy” rating and a $45.00 target price for the company. Three research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $40.23.
Shares of BSX opened at $38.85 on Friday. Boston Scientific has a 12-month low of $25.04 and a 12-month high of $39.44. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $52.24 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 2.19 and a beta of 0.83.
In related news, Director Yoshiaki Fujimori sold 6,143 shares of the company’s stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $37.13, for a total transaction of $228,089.59. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Maulik Nanavaty sold 23,458 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $37.28, for a total value of $874,514.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,724 shares of company stock worth $3,350,373. 0.73% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. We Are One Seven LLC bought a new position in Boston Scientific in the fourth quarter worth approximately $27,000. Athena Capital Advisors LLC bought a new position in Boston Scientific in the fourth quarter worth approximately $28,000. Ipswich Investment Management Co. Inc. bought a new position in Boston Scientific in the fourth quarter worth approximately $28,000. CWM LLC boosted its holdings in Boston Scientific by 54.3% in the fourth quarter. CWM LLC now owns 1,020 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 359 shares in the last quarter. Finally, West Oak Capital LLC boosted its holdings in Boston Scientific by 40.0% in the fourth quarter. West Oak Capital LLC now owns 1,050 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 300 shares in the last quarter. 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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