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

Boston Scientific (NYSE:BSX) had its price objective upped by investment analysts at 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. JPMorgan Chase & Co.‘s price target suggests a potential upside of 12.13% from the company’s previous close.

A number of other brokerages also recently commented on BSX. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. UBS Group boosted their target price on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada boosted their price target on Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday. Needham & Company LLC boosted their price target on Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, BTIG Research reaffirmed a “buy” rating and issued a $64.00 price target on shares of Boston Scientific in a research report on Friday, December 29th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $75.09.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $73.13 on Thursday. The business’s 50-day moving average price is $67.82 and its two-hundred day moving average price is $60.51. 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 has a one year low of $48.35 and a one year high of $74.39. 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.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating 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 previous year, the company posted $0.45 earnings per share. Analysts anticipate that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was 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 owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the sale, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The transaction was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock valued at $3,418,529 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently bought and sold shares of the business. Norges Bank acquired a new position in Boston Scientific during the 4th quarter worth $930,626,000. FMR LLC lifted its stake in shares of Boston Scientific by 6.8% in 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 period. Putnam Investments LLC raised its stake 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 worth $755,436,000 after buying an additional 6,859,280 shares during the period. Capital World Investors raised its stake in Boston Scientific by 236.1% during the 4th 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 period. Finally, American Century Companies Inc. raised its stake in Boston Scientific by 391.6% during the 3rd 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.