Boston Scientific (NYSE:BSX) Price Target Increased to $82.00 by Analysts at Needham & Company LLC

Boston Scientific (NYSE:BSX) had its price objective increased by Needham & Company LLC from $71.00 to $82.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the medical equipment provider’s stock.

Several other brokerages have also commented on BSX. Mizuho raised Boston Scientific from a neutral rating to a buy rating and lifted their price objective for the stock from $65.00 to $80.00 in a report on Thursday, February 1st. Argus upped their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a report on Monday, April 15th. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $60.00 to $72.00 and gave the company an overweight rating in a report on Thursday, February 1st. Finally, Evercore ISI lifted their price target on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boston Scientific has an average rating of Moderate Buy and a consensus price target of $69.00.

Boston Scientific Stock Up 5.7 %

BSX stock opened at $72.91 on Wednesday. The business has a 50 day moving average of $67.53 and a 200 day moving average of $60.28. The firm has a market cap of $106.97 billion, a PE ratio of 68.14, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44.

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, beating the consensus estimate of $0.51 by $0.04. The firm 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 15.99% and a net margin of 11.19%. During the same period last year, the company earned $0.45 earnings per share. On average, research analysts forecast that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the business’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 sale, the director now owns 41,374 shares in the company, valued at approximately $2,690,551.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the 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 transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Boston Scientific in the fourth quarter worth about $930,626,000. FMR LLC increased its position in shares of Boston Scientific by 6.8% during the 3rd quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after purchasing an additional 8,045,263 shares during the last quarter. Putnam Investments LLC raised its holdings in Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after buying an additional 6,859,280 shares during the period. Capital World Investors lifted its position in Boston Scientific by 236.1% in the fourth quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after buying an additional 6,617,360 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Boston Scientific by 391.6% during the third quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after buying an additional 2,606,253 shares during the period. 89.07% of the stock is currently 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.