Needham & Company LLC Raises Boston Scientific (NYSE:BSX) Price Target to $86.00

Boston Scientific (NYSE:BSX) had its target price boosted by Needham & Company LLC from $82.00 to $86.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

A number of other research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on Boston Scientific from $63.00 to $73.00 and gave the company a hold rating in a research note on Thursday, April 25th. Morgan Stanley boosted their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an overweight rating in a report on Monday, July 15th. Raymond James upped their price target on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a strong-buy rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. lifted their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research report on Thursday, April 25th. Finally, Evercore ISI boosted their price objective on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an outperform rating in a research note on Tuesday, July 2nd. 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 stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $84.76.

Boston Scientific Stock Performance

Shares of BSX stock opened at $74.92 on Thursday. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $79.43. The company’s fifty day simple moving average is $76.49 and its 200-day simple moving average is $70.47. The firm has a market cap of $109.92 billion, a PE ratio of 62.96, a P/E/G ratio of 2.49 and a beta of 0.78. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts expect that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the sale, the executive vice president now owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the transaction, the executive vice president now owns 42,908 shares in the company, valued at approximately $3,316,788.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the sale, the executive vice president now directly owns 20,197 shares in the company, valued at $1,521,641.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,441 shares of company stock valued at $4,624,453. 0.50% of the stock is owned by company insiders.

Institutional Trading of Boston Scientific

Institutional investors and hedge funds have recently made changes to their positions in the company. HB Wealth Management LLC increased its stake in Boston Scientific by 16.3% in the second quarter. HB Wealth Management LLC now owns 23,018 shares of the medical equipment provider’s stock valued at $1,773,000 after acquiring an additional 3,219 shares during the last quarter. Zimmermann Investment Management & Planning LLC bought a new position in shares of Boston Scientific in the 2nd quarter valued at $202,000. Kintegral Advisory LLC raised its holdings in shares of Boston Scientific by 459.1% during the 2nd quarter. Kintegral Advisory LLC now owns 59,454 shares of the medical equipment provider’s stock worth $4,579,000 after buying an additional 48,820 shares in the last quarter. Breakwater Capital Group lifted its position in shares of Boston Scientific by 5.2% during the 2nd quarter. Breakwater Capital Group now owns 7,665 shares of the medical equipment provider’s stock worth $590,000 after buying an additional 376 shares during the last quarter. Finally, Conning Inc. boosted its stake in Boston Scientific by 4.0% in the second quarter. Conning Inc. now owns 10,759 shares of the medical equipment provider’s stock valued at $829,000 after buying an additional 412 shares in the last quarter. 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.