Boston Scientific (NYSE:BSX) Price Target Raised to $82.00 at JPMorgan Chase & Co.

Boston Scientific (NYSE:BSX) had its price target lifted by JPMorgan Chase & Co. from $72.00 to $82.00 in a research note published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical equipment provider’s stock.

A number of other research firms have also recently commented on BSX. Mizuho increased their target price on Boston Scientific from $80.00 to $85.00 and gave the company a buy rating in a research note on Thursday. Citigroup increased their target price on Boston Scientific from $71.00 to $79.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Robert W. Baird increased their target price on Boston Scientific from $79.00 to $84.00 and gave the company an outperform rating in a research note on Thursday. Raymond James raised their price objective on Boston Scientific from $73.00 to $85.00 and gave the company a strong-buy rating in a research note on Thursday. Finally, Royal Bank of Canada raised their price objective on Boston Scientific from $78.00 to $82.00 and gave the company an outperform rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $74.27.

Boston Scientific Price Performance

Shares of BSX stock traded down $0.02 on Thursday, reaching $73.24. The company’s stock had a trading volume of 351,068 shares, compared to its average volume of 6,485,329. 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 has a 12-month low of $48.35 and a 12-month high of $74.39. The company has a market capitalization of $107.45 billion, a P/E ratio of 61.60, a PEG ratio of 2.48 and a beta of 0.78. The stock’s 50 day simple moving average is $67.68 and its 200-day simple moving average is $60.37.

Boston Scientific (NYSE:BSX) last released 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. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, equities analysts predict that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $467,092.87. Following 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. Insiders sold 50,979 shares of company stock valued at $3,418,529 over the last 90 days. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $930,626,000. FMR LLC boosted its stake in Boston Scientific by 6.8% during the 3rd quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after purchasing an additional 8,045,263 shares during the period. Putnam Investments LLC lifted its stake in shares of Boston Scientific by 110.5% in the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after acquiring an additional 6,859,280 shares during the period. Capital World Investors lifted its stake in shares of Boston Scientific by 236.1% in the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after acquiring an additional 6,617,360 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Boston Scientific by 391.6% in the 3rd quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after acquiring an additional 2,606,253 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.