Boston Scientific (NYSE:BSX) Given New $85.00 Price Target at Raymond James

Boston Scientific (NYSE:BSX) had its price target boosted by Raymond James from $73.00 to $85.00 in a research note published on Thursday, Benzinga reports. The firm currently has a strong-buy rating on the medical equipment provider’s stock.

Other equities analysts also recently issued reports about the stock. Argus raised their price target 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. Evercore ISI raised their price target on shares of Boston Scientific from $72.00 to $78.00 and gave the stock an outperform rating in a research note on Thursday. UBS Group raised their price target on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a buy rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an overweight rating in a research note on Thursday, February 1st. Finally, Needham & Company LLC lifted their target price on shares of Boston Scientific from $71.00 to $82.00 and gave the stock a buy rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $74.27.

Boston Scientific Price Performance

NYSE:BSX traded down $0.02 during trading hours on Thursday, reaching $73.24. 351,068 shares of the company were exchanged, compared to its average volume of 6,485,329. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average is $67.68 and its 200-day moving average is $60.37. The firm has a market cap of $107.45 billion, a PE ratio of 61.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.45 earnings per share. On average, sell-side analysts anticipate that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’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 transaction of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Edward J. Ludwig sold 7,000 shares of the business’s 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 completion of the sale, the director now owns 41,374 shares in the company, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is currently owned by insiders.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently bought and sold shares of the business. SYSTM Wealth Solutions LLC purchased a new stake in Boston Scientific in the 1st quarter valued at $1,169,000. Sumitomo Life Insurance Co. increased its stake in Boston Scientific by 60.7% in the 1st quarter. Sumitomo Life Insurance Co. now owns 111,268 shares of the medical equipment provider’s stock valued at $7,621,000 after buying an additional 42,009 shares during the period. Lindbrook Capital LLC increased its stake in Boston Scientific by 3.2% in the 1st quarter. Lindbrook Capital LLC now owns 5,793 shares of the medical equipment provider’s stock valued at $397,000 after buying an additional 182 shares during the period. Strategy Asset Managers LLC increased its stake in Boston Scientific by 18.2% in the 1st quarter. Strategy Asset Managers LLC now owns 10,439 shares of the medical equipment provider’s stock valued at $715,000 after buying an additional 1,605 shares during the period. Finally, Advocate Group LLC acquired a new position in Boston Scientific in the 1st quarter valued at $224,000. Hedge funds and other institutional investors 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.