Boston Scientific (NYSE:BSX) PT Raised to $73.00 at Deutsche Bank Aktiengesellschaft

Boston Scientific (NYSE:BSX) had its target price hoisted by stock analysts at Deutsche Bank Aktiengesellschaft from $63.00 to $73.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the medical equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential downside of 0.18% from the stock’s current price.

Several other analysts have also recently issued reports on BSX. UBS Group increased their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday. BTIG Research reiterated a “buy” rating and issued a $64.00 target price on shares of Boston Scientific in a research note on Friday, December 29th. Argus increased their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Oppenheimer raised their price objective on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, February 1st. Finally, TD Cowen raised their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.09.

Boston Scientific Stock Down 0.2 %

Boston Scientific stock opened at $73.13 on Thursday. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39. The firm has a 50 day moving average price of $67.82 and a 200-day moving average price of $60.51. The company has a market capitalization of $107.29 billion, a P/E ratio of 61.45, a P/E/G ratio of 2.48 and a beta of 0.78. 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 released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the firm earned $0.45 EPS. As a group, equities analysts predict that Boston Scientific will post 2.32 EPS for the current year.

Insiders Place Their Bets

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. 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 quarter. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its stake in shares of Boston Scientific by 5.6% during the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after purchasing an additional 27,620 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Boston Scientific during the fourth quarter worth about $5,116,000. Glenmede Trust Co. NA boosted its stake in Boston Scientific by 12.1% during the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after acquiring an additional 1,123 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Boston Scientific by 2.1% during the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after acquiring an additional 38,249 shares in the last quarter. Finally, HealthInvest Partners AB bought a new stake in Boston Scientific during the fourth quarter worth about $3,746,000. Institutional investors own 89.07% of the company’s stock.

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.