Boston Scientific (NYSE:BSX) PT Raised to $84.00 at Robert W. Baird

Boston Scientific (NYSE:BSX) had its price objective lifted by Robert W. Baird from $79.00 to $84.00 in a research report report published on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical equipment provider’s stock.

Several other analysts have also issued reports on BSX. Oppenheimer increased their price objective on Boston Scientific from $58.00 to $68.00 and gave the stock a market perform rating in a report on Thursday, February 1st. TD Cowen increased their price objective on Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a report on Thursday, March 7th. Wells Fargo & Company raised their target price on Boston Scientific from $70.00 to $72.00 and gave the company an overweight rating in a report on Thursday, February 1st. Raymond James raised their target price on Boston Scientific from $67.00 to $73.00 and gave the company a strong-buy rating in a report on Thursday, February 1st. Finally, BTIG Research restated a buy rating and set a $64.00 target price on shares of Boston Scientific in a report on Friday, December 29th. Three 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’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $74.27.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $73.30 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $74.39. The business has a fifty day simple moving average of $67.68 and a 200-day simple moving average of $60.37. The stock has a market cap of $107.54 billion, a PE ratio of 61.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the company earned $0.45 earnings per share. On average, sell-side analysts anticipate that Boston Scientific will post 2.32 EPS 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 Boston Scientific stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 value of $1,133,124.30. Following the completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific 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 transaction, 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. Over the last ninety days, insiders have sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. SYSTM Wealth Solutions LLC bought a new position in Boston Scientific in the 1st quarter worth approximately $1,169,000. Sumitomo Life Insurance Co. raised its position 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 worth $7,621,000 after purchasing an additional 42,009 shares during the last quarter. Lindbrook Capital LLC raised its position 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 worth $397,000 after purchasing an additional 182 shares during the last quarter. Strategy Asset Managers LLC raised its position 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 worth $715,000 after purchasing an additional 1,605 shares during the last quarter. Finally, Advocate Group LLC bought a new position in Boston Scientific in the 1st quarter worth approximately $224,000. 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.