Boston Scientific (NYSE:BSX) PT Raised to $82.00

Boston Scientific (NYSE:BSX) had its target price upped by investment analysts at Royal Bank of Canada from $78.00 to $82.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 12.22% from the stock’s current price.

Several other research analysts have also recently commented on BSX. Robert W. Baird boosted their price target on Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday. Needham & Company LLC boosted their price target on Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Oppenheimer boosted their price target on Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, February 1st. Finally, Evercore ISI boosted their price objective on Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday. Two 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. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $72.73.

Boston Scientific Stock Up 0.2 %

Shares of BSX traded up $0.16 during midday trading on Thursday, reaching $73.07. 2,738,805 shares of the company were exchanged, compared to its average volume of 6,490,728. The stock has a 50-day moving average price of $67.53 and a 200-day moving average price of $60.28. The company has a market cap of $107.20 billion, a price-to-earnings ratio of 68.40, a P/E/G ratio of 2.42 and a beta of 0.78. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $74.39. 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 (NYSE:BSX) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The company 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 15.99% and a net margin of 11.19%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Research analysts expect that Boston Scientific will post 2.25 earnings per share for the current year.

Insider Transactions at Boston Scientific

In related news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now directly owns 271,542 shares in the company, valued at approximately $17,883,756.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now directly owns 271,542 shares in the company, valued at approximately $17,883,756.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Boston Scientific by 50.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 444,121 shares of the medical equipment provider’s stock valued at $30,418,000 after purchasing an additional 149,873 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Boston Scientific by 5.0% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 258,058 shares of the medical equipment provider’s stock valued at $17,674,000 after purchasing an additional 12,300 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in Boston Scientific by 15.1% during the 1st quarter. Aaron Wealth Advisors LLC now owns 5,703 shares of the medical equipment provider’s stock valued at $391,000 after purchasing an additional 747 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Boston Scientific by 21.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 40,708 shares of the medical equipment provider’s stock valued at $2,788,000 after purchasing an additional 7,326 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in Boston Scientific by 155.0% during the 1st quarter. V Square Quantitative Management LLC now owns 9,788 shares of the medical equipment provider’s stock valued at $670,000 after purchasing an additional 5,950 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.