Boston Scientific (NYSE:BSX) Given New $85.00 Price Target at Mizuho

Boston Scientific (NYSE:BSX) had its price target lifted by stock analysts at Mizuho from $80.00 to $85.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Mizuho’s target price points to a potential upside of 16.04% from the stock’s current price.

A number of other research firms also recently commented on BSX. Argus increased their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Oppenheimer raised their price objective on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, February 1st. Robert W. Baird raised their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday. Finally, StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 16th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Boston Scientific Stock Performance

BSX traded up $0.34 on Thursday, reaching $73.25. The stock had a trading volume of 2,072,247 shares, compared to its average volume of 6,479,323. The company has a market cap of $107.47 billion, a P/E ratio of 68.40, a price-to-earnings-growth ratio of 2.42 and a beta of 0.78. The business’s 50-day moving average price is $67.53 and its two-hundred day moving average price is $60.28. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $74.39.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the business posted $0.45 EPS. Sell-side analysts forecast that Boston Scientific will post 2.25 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction on Tuesday, February 20th. The shares were 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 in the company, valued at $17,883,756.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,979 shares of company stock worth $3,418,529. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of institutional investors and hedge funds have recently modified their holdings of BSX. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific during the 1st quarter worth approximately $31,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Boston Scientific during the 4th quarter worth $28,000. Frazier Financial Advisors LLC acquired a new stake in shares of Boston Scientific during the 4th quarter worth $32,000. Sachetta LLC acquired a new stake in Boston Scientific in the fourth quarter valued at about $32,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Boston Scientific by 53.0% during the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 193 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Company Profile

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.