Boston Scientific (BSX) Earns Buy Rating from Guggenheim

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.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, research analysts forecast that Boston Scientific will post 1.39 earnings per share for the current fiscal year.

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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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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