Boston Scientific (NYSE:BSX) Price Target Raised to $82.00

Boston Scientific (NYSE:BSX) had its price target increased by Needham & Company LLC from $71.00 to $82.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

Several other brokerages have also weighed in on BSX. BTIG Research reaffirmed a buy rating and set a $64.00 target price on shares of Boston Scientific in a research note on Friday, December 29th. JPMorgan Chase & Co. boosted their target price on Boston Scientific from $60.00 to $72.00 and gave the company an overweight rating in a research report on Thursday, February 1st. Wells Fargo & Company raised their price target on Boston Scientific from $70.00 to $72.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. Mizuho upgraded Boston Scientific from a neutral rating to a buy rating and boosted their price objective for the company from $65.00 to $80.00 in a report on Thursday, February 1st. Finally, Citigroup raised their target price on Boston Scientific from $71.00 to $79.00 and gave the company a buy rating in a report on Wednesday, April 3rd. Three 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 stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $75.09.

Boston Scientific Stock Performance

Boston Scientific stock opened at $73.17 on Wednesday. The stock has a market cap of $107.35 billion, a price-to-earnings ratio of 61.49, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $67.82 and a 200-day simple moving average of $60.56. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $74.39.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the firm earned $0.45 earnings per share. On average, analysts expect that Boston Scientific will post 2.32 EPS for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the sale, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the company’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 completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock valued at $3,418,529 over the last quarter. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $28,000. Northwest Investment Counselors LLC acquired a new stake in Boston Scientific during the 1st quarter worth $31,000. Sachetta LLC acquired a new stake in Boston Scientific during the 4th quarter worth $32,000. Frazier Financial Advisors LLC purchased a new position in Boston Scientific during the 4th quarter worth $32,000. Finally, Jones Financial Companies Lllp increased its stake in Boston Scientific by 53.0% in 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 during the period. 89.07% of the stock is owned by hedge funds and other 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.