Boston Scientific (NYSE:BSX) PT Raised to $85.00

Boston Scientific (NYSE:BSX) had its price objective lifted by equities researchers at Citigroup from $79.00 to $85.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price target points to a potential upside of 16.23% from the stock’s current price.

A number of other brokerages also recently weighed in on BSX. Argus boosted their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. BTIG Research reissued a “buy” rating and issued a $64.00 price target on shares of Boston Scientific in a report on Friday, December 29th. Raymond James upped their price objective on shares of Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a report on Thursday. Finally, Oppenheimer upped their price objective on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a report on Thursday, February 1st. 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. According to MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $75.09.

Boston Scientific Stock Performance

NYSE BSX opened at $73.13 on Thursday. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $74.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The firm has a market cap of $107.29 billion, a price-to-earnings ratio of 61.45, a PEG ratio of 2.48 and a beta of 0.78. The company has a fifty day moving average price of $67.82 and a 200-day moving average price of $60.51.

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, topping analysts’ consensus estimates of $0.51 by $0.04. The company 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 in the previous year, the firm earned $0.45 EPS. As a group, equities research analysts predict that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the transaction, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The transaction was disclosed in a document filed 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 the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the transaction, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,979 shares of company stock worth $3,418,529. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BSX. Norges Bank bought a new position in Boston Scientific during the fourth quarter valued at approximately $930,626,000. FMR LLC grew its holdings in shares of Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after purchasing an additional 8,045,263 shares during the last quarter. Putnam Investments LLC grew its holdings in shares of Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after purchasing an additional 6,859,280 shares during the last quarter. Capital World Investors grew its holdings in shares of 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 purchasing an additional 6,617,360 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Boston Scientific by 391.6% in 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 purchasing an additional 2,606,253 shares during the last quarter. 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.