Boston Scientific Corporation (NYSE:BSX) trades flat

Posted by Lynn Eisler July 11, 2013 0 Comment 1311 views

Boston Scientific Corporation (NYSE:BSX) shares, which were trading at their 3-year high, are being downgraded as the results of the recent sharp declines. According to analysts, St. Jude Medical Inc. and Medtronic Inc., which are the competitors of Boston Scientific Corporation, are making their trade at a premium. Boston Scientific Corporation have been assigned with a “hold” rating by 15 investment analysts while with a “buy” rating was assigned by 9 analysts and “strong buy” rating was assigned by one analyst. Currently, Boston Scientific Corporation has an average of “hold” rating.

Recently, Boston Scientific Corporation has agreed to make payment of $275 million in cash for buying Bard EP electrophysiology unit. It is expected that this deal will widen the range of products that can be offered by Boston Scientific for the treatment of abnormal heartbeats and some other cardiac problems. According to BSX, this deal will have the ability to support the strategy framed in order to provide the strong and healthy portfolio of variety of solutions for cardiac-related problems. In spite of these synergies, electrophysiology device manufacturers are subject to pricing pressure around the world. Hence, this acquisition by Boston Scientific Corporation is not expected to result in any major contributions during the years 2013 and 2014.

On Thursday, Boston Scientific Corporation shares edged lower by 0.08%, which reversed some of their losses faced during this week. The shares of the company are trading in range of $9.19 and $9.35. A total number of 1.18M shares were traded. The stock has done exceedingly well with an YTD performance of more than 60%. The rally in the stock started during Mid of April and continues to move up with minor hiccups.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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