Royal Bank of Canada Boosts Boston Scientific (NYSE:BSX) Price Target to $95.00

Boston Scientific (NYSE:BSXFree Report) had its target price increased by Royal Bank of Canada from $85.00 to $95.00 in a report released on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical equipment provider’s stock.

Other research analysts have also recently issued reports about the stock. Truist Financial boosted their target price on shares of Boston Scientific from $86.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. StockNews.com lowered shares of Boston Scientific from a buy rating to a hold rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the company an overweight rating in a research report on Thursday, July 25th. Robert W. Baird increased their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the company an outperform rating in a research report on Thursday, July 25th. Finally, Needham & Company LLC increased their target price on shares of Boston Scientific from $82.00 to $86.00 and gave the company a buy rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific presently has an average rating of Moderate Buy and a consensus target price of $87.60.

View Our Latest Stock Analysis on Boston Scientific

Boston Scientific Price Performance

Boston Scientific stock opened at $86.17 on Tuesday. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $86.99. The firm has a 50 day moving average price of $80.74 and a 200 day moving average price of $76.23. The company has a market cap of $126.42 billion, a price-to-earnings ratio of 72.16, a PEG ratio of 2.78 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61.

Boston Scientific (NYSE:BSXGet Free Report) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts predict that Boston Scientific will post 2.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock worth $26,714,298 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in Boston Scientific in the second quarter worth $26,000. First Foundation Advisors bought a new stake in shares of Boston Scientific during the 1st quarter valued at $25,000. Eagle Bay Advisors LLC increased its stake in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares during the last quarter. Andra AP fonden bought a new position in Boston Scientific in the 2nd quarter worth about $29,000. Finally, Lynx Investment Advisory bought a new position in shares of Boston Scientific during the 2nd quarter valued at about $30,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Company Profile

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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.

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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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