Oppenheimer Maintains a Hold Rating on Boston Scientific (BSX)
In a report released today, Steven Lichtman from Oppenheimer maintained a Hold rating on Boston Scientific (BSX), with a price target of $43.00. The company’s shares closed last Wednesday at $39.81.
According to TipRanks.com, Lichtman is a 1-star analyst with an average return of -2.3% and a 50.8% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Helius Medical Technologies, Zimmer Biomet Holdings, and Merit Medical Systems.
Boston Scientific has an analyst consensus of Strong Buy, with a price target consensus of $45.25.
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Based on Boston Scientific’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.54 billion and net profit of $11 million. In comparison, last year the company earned revenue of $2.49 billion and had a net profit of $424 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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