Barclays Boosts Boston Scientific (NYSE:BSX) Price Target to $78.00

Boston Scientific (NYSE:BSX) had its price target increased by stock analysts at Barclays from $70.00 to $78.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. Barclays‘s target price would suggest a potential upside of 6.38% from the company’s current price.

BSX has been the subject of a number of other research reports. Needham & Company LLC lifted their price objective on Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI upped their target price on Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup upped their price objective on Boston Scientific from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group upped their price objective on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a report on Thursday. Finally, Argus upped their price target on Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.09.

Boston Scientific Trading Up 0.1 %

Shares of BSX stock traded up $0.06 on Friday, hitting $73.32. 1,337,740 shares of the stock traded hands, compared to its average volume of 6,492,735. The firm’s 50-day moving average price is $67.68 and its two-hundred day moving average price is $60.37. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The stock has a market capitalization of $107.57 billion, a PE ratio of 61.61, a PEG ratio of 2.48 and a beta of 0.78. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, analysts anticipate that Boston Scientific will post 2.32 EPS for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the transaction, the chief financial officer now owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares in the company, valued at approximately $17,883,756.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the sale, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,979 shares of company stock valued at $3,418,529. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new position in Boston Scientific during the first quarter valued at approximately $31,000. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific in the fourth quarter worth $28,000. Frazier Financial Advisors LLC bought a new stake in Boston Scientific in the fourth quarter worth $32,000. Sachetta LLC bought a new stake in Boston Scientific in the fourth quarter worth $32,000. Finally, Jones Financial Companies Lllp increased its position in 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 acquiring an additional 193 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

About Boston Scientific

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.