Boston Scientific Corporation (NYSE:BSX) got hold rating

Posted by Michael Korte July 9, 2013 0 Comment 1227 views

The shares of Boston Scientific Corporation (NYSE:BSX), which traded at around their three-years high, are downgraded after the recent sharp declines. Analysts maintain that St. Jude Medical Inc. and Medtronic Inc., competitors of Boston Scientific Corporation (NYSE:BSX), are trading at a premium. Fifteen investment analysts have assigned Boston Scientific Corporation (NYSE:BSX) a ‘hold’ rating, whereas nine analysts rated the company with a ‘buy’ and one with a ‘strong buy’. Boston Scientific Corporation (NYSE:BSX) currently has an average rating of “hold”.

Boston Scientific Corporation (NYSE:BSX) recently agreed to pay $275 million in cash to buy C.R. Bard’s, Bard EP electrophysiology unit. The deal is expected to widen the range of products Boston Scientific can offer to treat abnormal heartbeats and other cardiac problems. According to the Company, the deal will support the strategy framed to provide robust portfolio of varied solutions for cardiac-related problems and other EP tools which will be used to diagnose and treat conditions of abnormal heart beats.

Shares of Boston Scientific Corporation (NYSE:BSX) closed lower at $9.15 on Tuesday, recording a decline of 2.35 percent over the previous closing price. The shares of the company currently fluctuate in the range of $9.15 to $9.36 per share, after opening at $9.32 per share. The shares of Boston Scientific Corporation (NYSE:BSX) recorded a 52-week low price of $4.79 per share and a 52-week high price of $9.75 per share.

Boston Scientific Corporation (NYSE:BSX) had a trading volume of 17.51 million shares on Tuesday, with an average trading volume of 16.71 million shares per day. The company currently has 1.55 billion shares outstanding in the market with a market capitalization of $14.29 billion. Institutional ownership in Boston Scientific Corporation (NYSE:BSX) is 76 percent of its total share capital.

About Michael Korte

Michael Korte an investigative reporter at GDP Insider and is a breaking news reporter. Michael work includes investigations of misconduct by federal prosecutors and industrial air pollution around the nation's schools. His reporting has been recognized with the Hillman Prize for Newspaper Journalism, the Grantham Prize for Excellence in Reporting on the Environment, and the Philip Meyer Journalism Award for reporting that incorporates social science methods.

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