Needham & Company LLC reissued their buy rating on shares of Boston Scientific (NYSE:BSX) in a research note issued to investors on Wednesday, TipRanks reports. The firm currently has a $50.00 target price on the medical equipment provider’s stock.

Other equities research analysts have also issued research reports about the company. Credit Suisse Group upped their target price on Boston Scientific from $42.00 to $43.00 and gave the company an outperform rating in a research report on Thursday, April 30th. Oppenheimer upped their price objective on Boston Scientific from $41.00 to $43.00 and gave the stock a market perform rating in a research report on Wednesday. Stifel Nicolaus restated a buy rating and issued a $45.00 price objective on shares of Boston Scientific in a research report on Wednesday, June 24th. Raymond James upped their price objective on Boston Scientific from $42.00 to $43.00 and gave the stock a strong-buy rating in a research report on Thursday, April 30th. Finally, Zacks Investment Research lowered Boston Scientific from a hold rating to a strong sell rating and set a $38.00 price objective on the stock. in a research report on Wednesday, May 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $44.71.

Shares of NYSE BSX opened at $38.57 on Wednesday. The business’s 50 day moving average price is $36.11 and its 200 day moving average price is $37.19. The firm has a market cap of $53.97 billion, a P/E ratio of 13.68, a P/E/G ratio of 3.98 and a beta of 0.92. Boston Scientific has a 52 week low of $24.10 and a 52 week high of $46.62. The company has a quick ratio of 0.80, a current ratio of 1.21 and a debt-to-equity ratio of 0.68.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.12. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.68 billion. Boston Scientific had a return on equity of 13.68% and a net margin of 39.18%. Boston Scientific’s revenue for the quarter was down 23.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. As a group, research analysts expect that Boston Scientific will post 0.92 earnings per share for the current year.

In related news, EVP David A. Pierce sold 2,170 shares of the stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $38.00, for a total value of $82,460.00. Following the completion of the transaction, the executive vice president now directly owns 9,401 shares of the company’s stock, valued at approximately $357,238. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of BSX. Massachusetts Financial Services Co. MA increased its stake in shares of Boston Scientific by 118.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 29,733,994 shares of the medical equipment provider’s stock worth $970,220,000 after acquiring an additional 16,151,261 shares during the last quarter. Viking Global Investors LP increased its stake in shares of Boston Scientific by 72.1% in the 1st quarter. Viking Global Investors LP now owns 31,816,197 shares of the medical equipment provider’s stock worth $1,038,163,000 after acquiring an additional 13,324,535 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Boston Scientific by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 42,652,679 shares of the medical equipment provider’s stock worth $1,391,757,000 after acquiring an additional 6,714,969 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Boston Scientific by 50.3% in the 1st quarter. Jennison Associates LLC now owns 17,067,819 shares of the medical equipment provider’s stock worth $556,923,000 after acquiring an additional 5,709,360 shares during the last quarter. Finally, Majedie Asset Management Ltd acquired a new stake in shares of Boston Scientific in the 1st quarter worth $126,800,000. 89.97% of the stock is owned by hedge funds and other institutional investors.

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: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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