Boston Scientific (NYSE:BSX) Given New $85.00 Price Target at Raymond James

Boston Scientific (NYSE:BSX) had its target price increased by Raymond James from $73.00 to $85.00 in a report published on Thursday, Benzinga reports. Raymond James currently has a strong-buy rating on the medical equipment provider’s stock.

A number of other equities analysts have also recently weighed in on BSX. StockNews.com cut Boston Scientific from a buy rating to a hold rating in a research note on Saturday, March 16th. Mizuho lifted 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. Royal Bank of Canada lifted their target price on Boston Scientific from $70.00 to $78.00 and gave the company an outperform rating in a research note on Monday, April 15th. Needham & Company LLC lifted their target price on Boston Scientific from $71.00 to $82.00 and gave the company a buy rating in a research note on Wednesday. Finally, 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. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $74.27.

Boston Scientific Trading Down 0.0 %

BSX traded down $0.02 during trading on Thursday, reaching $73.24. The company had a trading volume of 351,068 shares, compared to its average volume of 6,485,329. The firm’s 50-day simple moving average is $67.68 and its 200 day simple moving average is $60.37. The company has a market cap of $107.45 billion, a price-to-earnings ratio of 61.60, a PEG ratio of 2.48 and a beta of 0.78. Boston Scientific has a 12-month low of $48.35 and a 12-month 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.

Boston Scientific (NYSE:BSX) last issued its quarterly 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 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 last year, the business posted $0.45 EPS. Equities research analysts anticipate that Boston Scientific will post 2.32 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was 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 $2,690,551.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock valued at $3,418,529 in the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Large investors have recently bought and sold shares of the stock. Northwest Investment Counselors LLC bought a new stake in Boston Scientific in the first quarter valued at $31,000. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific in the fourth quarter valued at $28,000. Frazier Financial Advisors LLC bought a new stake in Boston Scientific in the fourth quarter valued at $32,000. Sachetta LLC bought a new stake in Boston Scientific in the fourth quarter valued at $32,000. Finally, Jones Financial Companies Lllp grew its position 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 acquiring an additional 193 shares during the period. 89.07% of the stock is currently owned by institutional investors.

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.