Boston Scientific (BSX) Receives a Buy from Needham
In a report released today, Michael Matson from Needham assigned a Buy rating to Boston Scientific (BSX), with a price target of $50.00. The company’s shares closed last Wednesday at $44.29.
According to TipRanks.com, Matson is a 5-star analyst with an average return of 17.3% and a 72.0% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.
Boston Scientific has an analyst consensus of Moderate Buy, with a price target consensus of $44.83, a 2.2% upside from current levels. In a report released today, Piper Sandler also maintained a Buy rating on the stock with a $51.00 price target.
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Based on Boston Scientific’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.71 billion and net profit of $210 million. In comparison, last year the company earned revenue of $2.9 billion and had a net profit of $4 billion.
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Boston Scientific Corporation engages in the manufacturing of medical devices and products that are used in various interventional medical specialties worldwide. The company provides implantable devices including heart monitors, technologies for treating coronary artery disease and other cardiovascular disorders, and devices for diagnosing and treating gastrointestinal and pulmonary problems.