Boston Scientific (NYSE:BSX) Price Target Raised to $82.00 at JPMorgan Chase & Co.

Boston Scientific (NYSE:BSX) had its price target raised by JPMorgan Chase & Co. from $72.00 to $82.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an overweight rating on the medical equipment provider’s stock.

A number of other research firms also recently commented on BSX. Robert W. Baird increased their price objective on Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a report on Thursday. Evercore ISI upped their target price on Boston Scientific from $72.00 to $78.00 and gave the stock an outperform rating in a research report on Thursday. Royal Bank of Canada upped their target price on Boston Scientific from $78.00 to $82.00 and gave the stock an outperform rating in a research report on Thursday. StockNews.com cut Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Finally, TD Cowen upped their target price on Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $74.27.

Boston Scientific Stock Down 0.0 %

NYSE:BSX traded down $0.02 during mid-day trading on Thursday, reaching $73.24. The stock had a trading volume of 351,068 shares, compared to its average volume of 6,485,329. The business’s 50 day moving average is $67.68 and its 200 day moving average is $60.37. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $74.39. The stock has a market cap of $107.45 billion, a P/E ratio of 61.60, a PEG ratio of 2.48 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.

Boston Scientific (NYSE:BSX) last released 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. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company posted $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.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’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 completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the sale, the director now owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock worth $3,418,529 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Hedge funds have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in Boston Scientific in the first quarter valued at about $31,000. Bruce G. Allen Investments LLC bought a new position in Boston Scientific in the fourth quarter valued at about $28,000. Frazier Financial Advisors LLC bought a new position in Boston Scientific in the fourth quarter valued at about $32,000. Sachetta LLC bought a new position in Boston Scientific in the fourth quarter valued at about $32,000. Finally, Jones Financial Companies Lllp boosted its holdings 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 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.