Boston Scientific (BSX) Received its Third Buy in a Row
After Goldman Sachs and Morgan Stanley gave Boston Scientific (NYSE: BSX) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst William Plovanic maintained a Buy rating on Boston Scientific yesterday and set a price target of $44.00. The company’s shares closed last Tuesday at $35.33.
According to TipRanks.com, Plovanic is a 3-star analyst with an average return of 4.6% and a 53.3% success rate. Plovanic covers the Healthcare sector, focusing on stocks such as Staar Surgical Company, Merit Medical Systems, and Edwards Lifesciences.
Boston Scientific has an analyst consensus of Strong Buy, with a price target consensus of $43.23, representing a 19.1% upside. In a report released yesterday, BTIG also maintained a Buy rating on the stock with a $41.00 price target.
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Boston Scientific’s market cap is currently $50.04B and has a P/E ratio of 14.00. The company has a Price to Book ratio of -37.67.
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Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities. The Cardiovascular segment comprises of technologies or diagnosing and treating coronary artery disease and other cardiovascular disorders including structural heart conditions. The MedSurg segment focuses on Endoscopy, which provides devices to diagnose and treat a broad range of gastrointestinal and pulmonary conditions with innovative and invasive technologies. The company was founded by John E. Abele and Pete Michael Nicholas on June 29, 1979 and is headquartered in Marlborough, MA.