Oppenheimer analyst Steven Lichtman assigned a Hold rating to Boston Scientific (BSX) yesterday and set a price target of $41.00. The company’s shares closed last Wednesday at $37.45.
According to TipRanks.com, Lichtman is a 5-star analyst with an average return of 13.3% and a 58.0% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Merit Medical Systems, and Tandem Diabetes Care.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Boston Scientific with a $42.23 average price target, which is a 15.9% upside from current levels. In a report issued on February 1, Deutsche Bank also initiated coverage with a Hold rating on the stock with a $39.00 price target.
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Based on Boston Scientific’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.66 billion and GAAP net loss of $155 million. In comparison, last year the company earned revenue of $2.71 billion and had a net profit of $126 million.
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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.
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