Boston Scientific (NYSE:BSX) PT Raised to $82.00

Boston Scientific (NYSE:BSX) had its price objective hoisted by stock analysts at Royal Bank of Canada from $78.00 to $82.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 12.22% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company increased their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup increased their price objective on shares of Boston Scientific from $71.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. BTIG Research reaffirmed a “buy” rating and set a $64.00 price objective on shares of Boston Scientific in a report on Friday, December 29th. Needham & Company LLC increased their price objective on shares of Boston Scientific from $71.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Mizuho increased their price objective on shares of Boston Scientific from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.73.

Boston Scientific Price Performance

NYSE BSX traded up $0.16 on Thursday, reaching $73.07. 2,738,805 shares of the company’s stock traded hands, compared to its average volume of 6,490,728. Boston Scientific has a 12 month low of $48.35 and a 12 month 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 stock has a 50-day simple moving average of $67.53 and a 200 day simple moving average of $60.28. The stock has a market cap of $107.20 billion, a PE ratio of 68.40, a P/E/G ratio of 2.42 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its quarterly 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 net margin of 11.19% and a return on equity of 15.99%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the business earned $0.45 earnings per share. As a group, research analysts predict that Boston Scientific will post 2.25 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The stock was 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 in the company, valued at $17,883,756.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the sale, the chief financial officer now owns 271,542 shares in the company, valued at approximately $17,883,756.12. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock worth $3,418,529 over the last three months. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Boston Scientific

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake 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 valued at $27,353,000 after buying an additional 27,620 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Boston Scientific during the fourth quarter valued at $5,116,000. Glenmede Trust Co. NA increased its stake in shares of 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 valued at $551,000 after buying an additional 1,123 shares during the period. Principal Financial Group Inc. increased its stake in shares of 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 valued at $98,683,000 after buying an additional 38,249 shares during the period. Finally, HealthInvest Partners AB purchased a new position in shares of Boston Scientific during the fourth quarter valued at $3,746,000. Hedge funds and other 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.