Bank of America Securities Reaffirms Their Buy Rating on Boston Scientific (BSX)

In a report released today, Travis Steed from Bank of America Securities maintained a Buy rating on Boston Scientific, with a price target of $54.00.

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Steed covers the Healthcare sector, focusing on stocks such as Boston Scientific, Intuitive Surgical, and Medtronic. According to TipRanks, Steed has an average return of 2.8% and a 52.88% success rate on recommended stocks.

In addition to Bank of America Securities, Boston Scientific also received a Buy from Citi’s Joanne Wuensch in a report issued on July 31. However, on July 30, Argus Research downgraded Boston Scientific (NYSE: BSX) to a Hold.

Based on Boston Scientific’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.44 billion and a net profit of $907 million. In comparison, last year the company earned a revenue of $5.06 billion and had a net profit of $793 million

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BSX in relation to earlier this year. Earlier this month, David Habiger, a Director at BSX bought 2,100.00 shares for a total of $99,918.00.