Boston Scientific (NYSE:BSX) Price Target Increased to $79.00 by Analysts at Citigroup

Boston Scientific (NYSE:BSXGet Free Report) had its price objective lifted by equities researchers at Citigroup from $71.00 to $79.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price target points to a potential upside of 15.55% from the company’s previous close.

BSX has been the subject of several other research reports. Needham & Company LLC raised their target price on Boston Scientific from $60.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Oppenheimer raised their price target on Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Raymond James lifted their target price on Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a report on Thursday, February 1st. Finally, Argus lifted their target price on Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $67.59.

View Our Latest Stock Report on Boston Scientific

Boston Scientific Price Performance

Shares of Boston Scientific stock traded up $0.92 during mid-day trading on Wednesday, reaching $68.37. 1,982,705 shares of the stock traded hands, compared to its average volume of 6,407,004. The business has a 50-day moving average of $65.98 and a 200 day moving average of $58.57. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $68.92. The stock has a market capitalization of $100.50 billion, a PE ratio of 63.93, a PEG ratio of 2.39 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSXGet Free Report) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. On average, analysts predict that Boston Scientific will post 2.25 EPS for the current year.

Insider Transactions at Boston Scientific

In other news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $58.40, for a total value of $876,000.00. Following the sale, the executive vice president now directly owns 56,588 shares in the company, valued at approximately $3,304,739.20. The disclosure for this sale can be found here. Insiders have sold 92,811 shares of company stock valued at $5,893,070 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of BSX. Bruce G. Allen Investments LLC acquired a new position in Boston Scientific in the 4th quarter valued at $28,000. Sachetta LLC acquired a new position in Boston Scientific in the 4th quarter valued at $32,000. Frazier Financial Advisors LLC acquired a new position in Boston Scientific in the 4th quarter valued at $32,000. Jones Financial Companies Lllp raised its holdings in Boston Scientific by 53.0% in the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 193 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in Boston Scientific in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Company Profile

(Get Free Report)

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.

Further Reading

Analyst Recommendations for Boston Scientific (NYSE:BSX)

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