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

Boston Scientific (NYSE:BSX) had its target price hoisted by Royal Bank of Canada from $78.00 to $82.00 in a research note issued to investors on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical equipment provider’s stock.

A number of other brokerages also recently commented on BSX. Mizuho upped their target price on shares of Boston Scientific from $80.00 to $85.00 and gave the stock a buy rating in a research note on Thursday. Argus increased their price objective on Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. UBS Group upped their target price on Boston Scientific from $74.00 to $90.00 and gave the stock a buy rating in a report on Thursday. Evercore ISI boosted their price target on shares of Boston Scientific from $72.00 to $78.00 and gave the company an outperform rating in a report on Thursday. Finally, Robert W. Baird increased their price objective on shares of Boston Scientific from $79.00 to $84.00 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $75.09.

Boston Scientific Price Performance

Shares of BSX stock opened at $73.17 on Thursday. The stock has a 50 day moving average price of $67.82 and a 200 day moving average price of $60.56. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $74.39. 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 firm has a market capitalization of $107.35 billion, a P/E ratio of 61.49, a P/E/G ratio of 2.52 and a beta of 0.78.

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 the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same period last year, the company earned $0.45 earnings per share. As a group, sell-side analysts predict that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was 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 approximately $3,779,820.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now 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 accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was 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 $3,779,820.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,979 shares of company stock worth $3,418,529. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new stake in Boston Scientific in the fourth quarter valued at $28,000. Northwest Investment Counselors LLC acquired a new stake in shares of Boston Scientific during the 1st quarter worth about $31,000. Sachetta LLC purchased a new stake in Boston Scientific during the fourth quarter worth approximately $32,000. Frazier Financial Advisors LLC acquired a new position in Boston Scientific in the fourth quarter valued at approximately $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 last quarter. 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.