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

Boston Scientific (NYSE:BSX) had its target price boosted by Wells Fargo & Company from $72.00 to $82.00 in a research report released on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical equipment provider’s stock.

Other analysts have also recently issued research reports about the stock. Raymond James raised their price objective on shares of Boston Scientific from $67.00 to $73.00 and gave the company a strong-buy rating in a research note on Thursday, February 1st. Royal Bank of Canada boosted their price target on Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Mizuho raised Boston Scientific from a neutral rating to a buy rating and raised their price objective for the company from $65.00 to $80.00 in a research note on Thursday, February 1st. BTIG Research reissued a buy rating and set a $64.00 target price on shares of Boston Scientific in a research report on Friday, December 29th. Finally, Argus increased their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Three investment 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. According to data from MarketBeat, Boston Scientific has an average rating of Moderate Buy and an average price target of $75.09.

Boston Scientific Stock Down 0.1 %

BSX stock opened at $73.17 on Thursday. Boston Scientific has a one year low of $48.35 and a one year high of $74.39. The company has a fifty day moving average of $67.82 and a 200-day moving average of $60.56. The stock has a market capitalization of $107.35 billion, a PE ratio of 61.49, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32.

Boston Scientific (NYSE:BSX) last posted its quarterly 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. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same period in the previous year, the business earned $0.45 earnings per share. As a group, analysts expect that Boston Scientific will post 2.32 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated 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 approximately $3,779,820.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors have recently modified their holdings of BSX. Victory Capital Management Inc. raised its holdings in shares of Boston Scientific by 5.6% during the third quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock worth $27,353,000 after acquiring an additional 27,620 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Boston Scientific in the 4th quarter worth about $5,116,000. Glenmede Trust Co. NA raised its stake in shares of Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after purchasing an additional 1,123 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Boston Scientific by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock valued at $98,683,000 after buying an additional 38,249 shares during the last quarter. Finally, HealthInvest Partners AB acquired a new position in shares of Boston Scientific during the 4th quarter worth $3,746,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.