Trade Report: The Boston Scientific Corp. (BSX) to Post FY2017 Earnings of $1.25 Per Share, Jefferies Group Forecasts

The Boston Scientific Corp. (BSX) to Post FY2017 Earnings of $1.25 Per Share, Jefferies Group Forecasts

Boston Scientific Corp. (NYSE:BSX) – Investment analysts at Jefferies Group upped their FY2017 earnings per share estimates for shares of Boston Scientific Corp. in a report released on Wednesday. Jefferies Group analyst R. Denhoy now forecasts that the firm will post earnings of $1.25 per share for the year, up from their previous estimate of $1.22. Jefferies Group currently has a “Hold” rating and a $24.00 price target on the stock. Jefferies Group also issued estimates for Boston Scientific Corp.’s FY2018 earnings at $1.41 EPS.

Boston Scientific Corp. (NYSE:BSX) last issued its earnings results on Wednesday, October 26th. The company reported $0.27 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.27. Boston Scientific Corp. had a net margin of 0.99% and a return on equity of 23.25%. The firm earned $2.11 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the business earned $0.24 earnings per share. Boston Scientific Corp.’s revenue for the quarter was up 11.5% on a year-over-year basis.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Boston Scientific Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. Citigroup Inc. lifted their target price on shares of Boston Scientific Corp. from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Boston Scientific Corp. in a report on Friday, July 29th. Argus raised shares of Boston Scientific Corp. from a “hold” rating to a “buy” rating and lifted their target price for the company from $23.82 to $33.00 in a report on Thursday, September 1st. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $28.00 target price on shares of Boston Scientific Corp. in a report on Friday, October 14th. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Boston Scientific Corp. presently has an average rating of “Buy” and a consensus target price of $25.43.

Shares of Boston Scientific Corp. (NYSE:BSX) opened at 22.09 on Friday. The company’s 50-day moving average is $23.23 and its 200-day moving average is $22.95. Boston Scientific Corp. has a 1-year low of $15.67 and a 1-year high of $24.79. The stock has a market cap of $30.07 billion, a P/E ratio of 416.79 and a beta of 0.89.

Hedge funds have recently modified their holdings of the stock. Trust Co. of Vermont raised its stake in shares of Boston Scientific Corp. by 2,298.3% in the third quarter. Trust Co. of Vermont now owns 4,221 shares of the company’s stock valued at $100,000 after buying an additional 4,045 shares during the period. Synovus Financial Corp bought a new stake in shares of Boston Scientific Corp. during the third quarter valued at about $102,000. Quadrant Capital Group LLC raised its stake in shares of Boston Scientific Corp. by 1.7% in the second quarter. Quadrant Capital Group LLC now owns 4,844 shares of the company’s stock valued at $105,000 after buying an additional 83 shares during the period. Global X Management Co. LLC raised its stake in shares of Boston Scientific Corp. by 91.8% in the second quarter. Global X Management Co. LLC now owns 4,683 shares of the company’s stock valued at $109,000 after buying an additional 2,242 shares during the period. Finally, Gemmer Asset Management LLC raised its stake in shares of Boston Scientific Corp. by 2.4% in the third quarter. Gemmer Asset Management LLC now owns 4,991 shares of the company’s stock valued at $119,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 92.05% of the company’s stock.

In related news, CEO Michael F. Mahoney sold 44,400 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $24.44, for a total value of $1,085,136.00. Following the sale, the chief executive officer now directly owns 1,388,177 shares in the company, valued at approximately $33,927,045.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John Bradley Sorenson sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $23.90, for a total transaction of $59,750.00. Following the completion of the sale, the senior vice president now owns 12,615 shares in the company, valued at $301,498.50. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by corporate insiders.

Boston Scientific Corp. Company Profile

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