In a report released today, Jason Mills from Canaccord Genuity maintained a Buy rating on Boston Scientific (BSX), with a price target of $42.00. The company’s shares closed last Wednesday at $37.43.
According to TipRanks.com, Mills is a top 100 analyst with an average return of 22.5% and a 70.4% success rate. Mills covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Staar Surgical Company, and Merit Medical Systems.
Boston Scientific has an analyst consensus of Strong Buy, with a price target consensus of $43.14, implying a 17.2% upside from current levels. In a report released yesterday, BTIG also reiterated a Buy rating on the stock with a $44.00 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 $2.9 billion and net profit of $4 billion. In comparison, last year the company earned revenue of $2.56 billion and had a net profit of $386 million.
Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BSX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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