Boston Scientific - BSX Stock Forecast, Price & News

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. It also provides medical technologies to diagnose and treat rate and rhythm disorders of the heart comprising 3-D cardiac mapping and navigation solutions, ablation catheters, diagnostic catheters, mapping catheters, intracardiac ultrasound catheters, delivery sheaths, and other accessories; spinal cord stimulator systems for the management of chronic pain; indirect decompression systems; and deep brain stimulation systems. In addition, the company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions 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 various peripheral vessels; and structural heart therapies. Further, it provides stents, balloon catheters, wires, and atherectomy systems to treat arterial diseases; thrombectomy and acoustic pulse thrombolysis systems, wires, and stents to treat venous diseases; and peripheral embolization devices, radioactive microspheres, ablation systems, cryotherapy ablation systems, and micro and drainage catheters to treat cancer. The company was incorporated in 1979 and is headquartered in Marlborough, Massachusetts.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Needham & Company LLC upgraded Boston Scientific from a "hold" rating to a "buy" rating and set a $48.00 price objective on the stock in a research note on Friday, May 27th. Wolfe Research assumed coverage on Boston Scientific in a research report on Tuesday, July 5th. They set an "outperform" rating and a $43.00 target price for the company. Canaccord Genuity Group decreased their target price on Boston Scientific from $51.00 to $43.00 and set a "buy" rating for the company in a research report on Wednesday, June 29th. Citigroup decreased their target price on Boston Scientific from $52.00 to $47.00 and set a "buy" rating for the company in a research report on Tuesday, May 17th. Finally, Canaccord Genuity Group raised their target price on Boston Scientific from $43.00 to $45.00 in a research report on Thursday, July 28th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.55.

Boston Scientific Price Performance

Shares of BSX traded down $0.27 during trading hours on Tuesday, reaching $41.88. 12,862 shares of the company's stock traded hands, compared to its average volume of 7,593,953. The stock has a market cap of $59.87 billion, a PE ratio of 72.67, a price-to-earnings-growth ratio of 2.29 and a beta of 0.85. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.51. The firm's 50 day simple moving average is $38.47 and its 200-day simple moving average is $41.21. Boston Scientific has a 12 month low of $34.98 and a 12 month high of $47.49.

Boston Scientific (NYSE:BSX - Get Rating) last released its earnings results on Wednesday, July 27th. The medical equipment provider reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.22 billion. Boston Scientific had a return on equity of 14.58% and a net margin of 7.16%. Boston Scientific's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. Equities analysts expect that Boston Scientific will post 1.76 EPS for the current year.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 7,500 shares of the business's stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $42.03, for a total value of $315,225.00. Following the completion of the sale, the executive vice president now owns 117,413 shares in the company, valued at approximately $4,934,868.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 7,500 shares of Boston Scientific stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $42.03, for a total value of $315,225.00. Following the transaction, the executive vice president now directly owns 117,413 shares of the company's stock, valued at approximately $4,934,868.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Francis Yves Thepaut sold 20,676 shares of the business's stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $40.99, for a total value of $847,509.24. Following the transaction, the executive vice president now directly owns 72,486 shares in the company, valued at $2,971,201.14. The disclosure for this sale can be found here. Insiders sold 59,264 shares of company stock worth $2,401,673 in the last quarter. 0.66% of the stock is owned by insiders.