Boston Scientific (NYSE:BSX) Price Target Raised to $82.00

Boston Scientific (NYSE:BSX) had its price objective lifted by equities research 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 12.13% from the stock’s previous close.

Several other brokerages also recently commented on BSX. BTIG Research restated a “buy” rating and set a $64.00 target price on shares of Boston Scientific in a report on Friday, December 29th. Needham & Company LLC raised their target price on shares of Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday. TD Cowen raised their price target on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. raised their price target on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, UBS Group raised their price target on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.09.

Boston Scientific Stock Performance

Shares of BSX stock opened at $73.13 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The company has a market capitalization of $107.29 billion, a P/E ratio of 61.45, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. The company’s 50 day moving average price is $67.82 and its two-hundred day moving average price is $60.51. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $74.39.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period last year, the company posted $0.45 EPS. On average, analysts expect that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Friday, February 23rd. The shares were 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 of the company’s stock, valued at $3,779,820.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now directly 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 three months, insiders sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. Bruce G. Allen Investments LLC bought a new position in Boston Scientific during the fourth quarter worth $28,000. Northwest Investment Counselors LLC acquired a new stake in shares of Boston Scientific during the first quarter worth $31,000. Sachetta LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth $32,000. Frazier Financial Advisors LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth $32,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Boston Scientific by 53.0% during the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 193 shares in the last quarter. 89.07% of the stock is 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.