Analysts Set Boston Scientific Co. (NYSE:BSX) PT at $93.39

Boston Scientific Co. (NYSE:BSX) has earned an average rating of “Moderate Buy” from the twenty-three research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $93.39.

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Barclays upped their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein lifted their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company increased their price objective on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Citigroup lifted their target price on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th.

Boston Scientific Price Performance

BSX stock opened at $90.19 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific has a 12 month low of $53.93 and a 12 month high of $91.93. The stock has a market cap of $132.92 billion, a PE ratio of 74.54, a P/E/G ratio of 2.65 and a beta of 0.79. The company has a 50-day moving average price of $86.26 and a 200 day moving average price of $80.44.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. Equities research analysts anticipate that Boston Scientific will post 2.46 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 328,157 shares of company stock worth $27,894,270. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Synovus Financial Corp raised its position in Boston Scientific by 7.1% during the third quarter. Synovus Financial Corp now owns 17,518 shares of the medical equipment provider’s stock valued at $1,468,000 after acquiring an additional 1,167 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Boston Scientific by 8.8% during the 3rd quarter. Tidal Investments LLC now owns 86,507 shares of the medical equipment provider’s stock valued at $7,249,000 after purchasing an additional 6,990 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Boston Scientific in the 3rd quarter valued at $1,175,000. World Investment Advisors LLC lifted its stake in shares of Boston Scientific by 50.9% in the 3rd quarter. World Investment Advisors LLC now owns 11,684 shares of the medical equipment provider’s stock valued at $979,000 after purchasing an additional 3,939 shares during the period. Finally, Passumpsic Savings Bank purchased a new stake in Boston Scientific during the third quarter worth $3,015,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.