Boston Scientific Corp (BSX) Shares Hovering Above Chikou

According to Zacks, "Amid challenging economic conditions, a competitive environment and severe currency headwinds, Boston Scientific posted mixed third-quarter 2016 results, with earnings in line with the Zacks Consensus Estimate and revenues ahead of the mark". On a positive note, backed by a strong global team, flawless execution of long-term strategic plans including portfolio expansion, globalization efforts and investments into faster growth markets, the company posted 9% organic growth. The figure allows investors to understand how effectively Boston Scientific Corporation is able to convert its money into net income. "The company's Urology business is also gaining traction".

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. On October 31 analysts at SunTrust Banks updated guidance on BSX with a rating of "Buy" and a price target of $34.00. Credit Suisse Group AG reaffirmed a buy rating on shares of Boston Scientific a report on Friday, July 29th. Janus Henderson Group PLC lifted its stake in shares of Boston Scientific Corporation by 22,491.6% in the second quarter.

Equity analyst BMO Capital Markets raised the price target of the stock on October 27 changing the price objective from $30.00 to $32.00 and issued a "Outperform" rating. Royal Bank Of Canada restated a "buy" rating and set a $31.00 price objective on shares of Boston Scientific Corporation in a research report on Friday, September 1st. The company has an average rating of Buy and a consensus target price of $25.43. (NYSE:BSX) opened at 21.54 on Monday. A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued.

Deep diving into the technical levels for Boston Scientific Corp (BSX), we note that the equity now has a 14-day Commodity Channel Index (CCI) of 15.51. The stock traded within a range of $28.19 and $28.61. The company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.21 billion. During the same period in the prior year, the firm earned $0.24 EPS. The firm's revenue was up 11.5% on a year-over-year basis.

Boston Scientific Corp's P/E ratio is 46.72 and the market cap of the company is 38.89B. Vanguard Group Inc. now owns 93,657,300 shares of the medical equipment provider's stock worth $2,596,181,000 after buying an additional 2,522,556 shares in the last quarter. The shares were sold at an average price of $26.87, for a total value of $416,485.00.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 5.99%, and has a solid year to date (YTD) performance of 31.53% which means that the stock is constantly adding to its value from the previous fiscal year end price. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.31% of the company's stock. After a recent check, the 14-day RSIfor Boston Scientific Corp (BSX) is now at 47.16, the 7-day stands at 51.24, and the 3-day is sitting at 62.61. Jennison Associates LLC now owns 10,639,290 shares of the medical equipment provider's stock worth $294,921,000 after buying an additional 8,533,655 shares in the last quarter.

Short traders are feeling a little more bullish on shares of Boston Scientific Corp at least if you consider the fall in short interest. Arizona State Retirement System now owns 365,656 shares of the company's stock worth $6,878,000 after buying an additional 9,600 shares during the last quarter.

Price-to-free-cash-flow (P/FCF) of 49.29 gives an overview of the equity valuation for Boston Scientific Corporation. Finally, A.R.T. Advisors LLC boosted its position in Boston Scientific 30.1% in the first quarter.

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties.

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