Needham Keeps Boston Scientific (NYSE:BSX) As a Strong Buy; They Now Have a TP Of $43

September 8, 2018 - By Mark Babin

Boston Scientific Corporation (NYSE:BSX) Logo

Investors sentiment decreased to 0.96 in Q1 2018. Its down 0.38, from 1.34 in 2017Q4. It turned negative, as 42 investors sold Boston Scientific Corporation shares while 181 reduced holdings. 60 funds opened positions while 153 raised stakes. 1.18 billion shares or 0.46% less from 1.18 billion shares in 2017Q4 were reported.

Texas Permanent School Fund accumulated 355,247 shares or 0.13% of the stock. Banque Pictet & Cie has 0.03% invested in Boston Scientific Corporation (NYSE:BSX) for 44,070 shares. Texas-based Employees Retirement Of Texas has invested 0.2% in Boston Scientific Corporation (NYSE:BSX). Systematic Fin Mgmt Lp holds 0.01% in Boston Scientific Corporation (NYSE:BSX) or 18,000 shares. Partner Invest Management Limited Partnership holds 14,970 shares or 0.44% of its portfolio. Fukoku Mutual Life Ins holds 0.04% of its portfolio in Boston Scientific Corporation (NYSE:BSX) for 8,744 shares. Highland Mngmt Limited Liability Co holds 22,271 shares or 0.05% of its portfolio. Utd Cap Fincl Advisers stated it has 0% of its portfolio in Boston Scientific Corporation (NYSE:BSX). Jennison Ltd Com owns 0.05% invested in Boston Scientific Corporation (NYSE:BSX) for 1.95M shares. Prudential Fin holds 0.1% in Boston Scientific Corporation (NYSE:BSX) or 2.34 million shares. Kbc Gp Nv invested in 0.18% or 710,857 shares. Manchester Cap Mgmt Limited Liability Co holds 0.03% or 6,957 shares. Moreover, Capital Fund Sa has 0% invested in Boston Scientific Corporation (NYSE:BSX). Dodge And Cox invested in 238,355 shares. Wafra Inv Advisory Grp New York has invested 0.41% in Boston Scientific Corporation (NYSE:BSX).

Since March 14, 2018, it had 0 insider purchases, and 16 selling transactions for $9.64 million activity. Mirviss Jeffrey B. also sold $630,703 worth of Boston Scientific Corporation (NYSE:BSX) on Thursday, June 14. Pierce David A also sold $168,323 worth of Boston Scientific Corporation (NYSE:BSX) on Wednesday, August 1. On Thursday, May 17 the insider Thepaut Eric Francis Yves sold $603,368. Shares for $60,786 were sold by Sorenson John Bradley. The insider Sununu John E sold 72 shares worth $2,511. On Monday, March 19 Brennan Daniel J. sold $1.68M worth of Boston Scientific Corporation (NYSE:BSX) or 60,209 shares.

Boston Scientific (NYSE:BSX) Rating Reaffirmed

Equities researchers at Needham now has a $43 target price on Boston Scientific (NYSE:BSX). Needham and their recent target price means a potential upside of 19.94 % from the company’s last close price. The rating has been revealed in a note on Friday, 7 September.

Boston Scientific Corporation (NYSE:BSX) Ratings Coverage

Among 12 analysts covering Boston Scientific (NYSE:BSX), 12 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Boston Scientific has $42 highest and $3100 lowest target. $35.92’s average target is 0.20% above currents $35.85 stock price. Boston Scientific had 15 analyst reports since March 19, 2018 according to SRatingsIntel. The company was maintained on Wednesday, April 25 by Jefferies. Raymond James maintained it with “Strong Buy” rating and $34 target in Thursday, April 26 report. Bank of America maintained Boston Scientific Corporation (NYSE:BSX) rating on Thursday, April 5. Bank of America has “Buy” rating and $34 target. The firm has “Outperform” rating given on Thursday, April 26 by Leerink Swann. Needham maintained the stock with “Buy” rating in Wednesday, April 25 report. The rating was maintained by Citigroup on Tuesday, May 1 with “Buy”. The stock of Boston Scientific Corporation (NYSE:BSX) earned “Overweight” rating by JP Morgan on Thursday, April 26. On Tuesday, September 4 the stock rating was upgraded by Jefferies to “Buy”. The firm has “Overweight” rating by Morgan Stanley given on Thursday, July 26. The company was maintained on Thursday, June 7 by Argus Research.

The stock decreased 0.39% or $0.14 during the last trading session, reaching $35.85. About 4.51 million shares traded. Boston Scientific Corporation (NYSE:BSX) has risen 11.19% since September 8, 2017 and is uptrending. It has underperformed by 1.38% the S&P500.

Analysts await Boston Scientific Corporation (NYSE:BSX) to report earnings on October, 25. They expect $0.34 EPS, up 9.68 % or $0.03 from last year’s $0.31 per share. BSX’s profit will be $470.20 million for 26.36 P/E if the $0.34 EPS becomes a reality. After $0.41 actual EPS reported by Boston Scientific Corporation for the previous quarter, Wall Street now forecasts -17.07 % negative EPS growth.

Boston Scientific Corporation develops, makes, and markets medical devices for use in various interventional medical specialties worldwide. The company has market cap of $49.58 billion. It operates through three divisions: Cardiovascular, Rhythm Management, and MedSurg. It has a 94.59 P/E ratio. The firm offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; other coronary 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.

More news for Boston Scientific Corporation (NYSE:BSX) were recently published by: Seekingalpha.com, which released: “JP Morgan likes Boston Scientific’s Augmenix buy” on September 07, 2018. Seekingalpha.com‘s article titled: “Premarket analyst action – healthcare” and published on September 04, 2018 is yet another important article.

Boston Scientific Corporation (NYSE:BSX) Institutional Positions Chart

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