Shares of Boston Scientific (NYSE:BSX) reached a new 52-week high and low during mid-day trading on Friday . The company traded as low as $30.53 and last traded at $30.45, with a volume of 117876 shares trading hands. The stock had previously closed at $30.31.
A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $35.00 price objective on shares of Boston Scientific in a research note on Tuesday, March 27th. Piper Jaffray assumed coverage on shares of Boston Scientific in a research note on Friday, February 23rd. They issued an “overweight” rating and a $31.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Boston Scientific from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, March 19th. Royal Bank of Canada restated a “top pick” rating and issued a $32.00 price objective on shares of Boston Scientific in a research note on Monday, March 5th. Finally, Zacks Investment Research upgraded shares of Boston Scientific from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $32.23.
The stock has a market capitalization of $41.84 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 2.16 and a beta of 0.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.59 and a current ratio of 0.82.
Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 25th. The medical equipment provider reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. Boston Scientific had a net margin of 1.21% and a return on equity of 25.10%. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Boston Scientific’s revenue was up 10.1% compared to the same quarter last year. equities analysts predict that Boston Scientific will post 1.39 earnings per share for the current fiscal year.
In other Boston Scientific news, SVP Eric Francis Yves Thepaut sold 20,015 shares of the business’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $30.15, for a total value of $603,452.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP David A. Pierce sold 16,286 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $27.00, for a total transaction of $439,722.00. The disclosure for this sale can be found here. Insiders have sold 196,527 shares of company stock worth $5,609,035 in the last ninety days. 0.73% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in BSX. Truewealth LLC bought a new stake in Boston Scientific in the 4th quarter valued at $116,000. Icon Wealth Partners LLC bought a new stake in Boston Scientific in the 4th quarter valued at $117,000. Cerebellum GP LLC bought a new stake in Boston Scientific in the 4th quarter valued at $126,000. Delpha Capital Management LLC bought a new stake in Boston Scientific in the 4th quarter valued at $135,000. Finally, Ostrum Asset Management bought a new stake in Boston Scientific in the 1st quarter valued at $174,000. 90.34% of the stock is currently 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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