Citigroup Boosts Boston Scientific (NYSE:BSX) Price Target to $87.00

Boston Scientific (NYSE:BSX) had its price target upped by Citigroup from $85.00 to $87.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

BSX has been the topic of a number of other reports. Barclays lifted their price objective on Boston Scientific from $70.00 to $78.00 and gave the stock an overweight rating in a research note on Friday, April 26th. JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research note on Thursday, April 25th. Mizuho lifted their target price on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, May 15th. Raymond James increased their price target on Boston Scientific from $73.00 to $85.00 and gave the stock a strong-buy rating in a report on Thursday, April 25th. Finally, UBS Group increased their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $75.41.

Boston Scientific Trading Up 1.7 %

BSX opened at $75.63 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $76.25. The company’s 50 day moving average price is $70.61 and its two-hundred day moving average price is $63.78. The firm has a market capitalization of $110.96 billion, a price-to-earnings ratio of 63.55, a PEG ratio of 2.56 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. As a group, research analysts predict that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total value of $286,874.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, Director Charles J. Dockendorff sold 3,946 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Eric Francis Yves Thepaut sold 12,931 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $74.14, for a total transaction of $958,704.34. Following the sale, the executive vice president now owns 31,422 shares of the company’s stock, valued at approximately $2,329,627.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,616 shares of company stock worth $4,819,057. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the period. FMR LLC raised its position 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 valued at $6,648,595,000 after purchasing an additional 8,045,263 shares during the period. Wellington Management Group LLP lifted its stake in shares of Boston Scientific by 5.9% during the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after buying an additional 2,336,348 shares in the last quarter. Primecap Management Co. CA boosted its holdings in Boston Scientific by 1.5% in the 4th quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after buying an additional 550,490 shares during the period. Finally, Morgan Stanley grew its stake in Boston Scientific by 2.3% in the 3rd quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock valued at $1,119,378,000 after buying an additional 481,891 shares in the last quarter. 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.