Boston Scientific (NYSE:BSX) Price Target Raised to $85.00

Boston Scientific (NYSE:BSX) had its price objective hoisted by research analysts at Citigroup from $79.00 to $85.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price objective indicates a potential upside of 15.96% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. UBS Group raised their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday. Raymond James raised their target price 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. Royal Bank of Canada raised their target price on shares of Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday. Mizuho lifted their price objective on shares of Boston Scientific from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Finally, 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 report on Thursday. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $74.27.

Boston Scientific Trading Up 0.5 %

NYSE BSX traded up $0.39 during trading on Thursday, hitting $73.30. The stock had a trading volume of 8,171,396 shares, compared to its average volume of 6,560,629. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The stock has a market capitalization of $107.54 billion, a price-to-earnings ratio of 68.50, a P/E/G ratio of 2.42 and a beta of 0.78. Boston Scientific has a one year low of $48.35 and a one year high of $74.39. The stock has a 50 day simple moving average of $67.53 and a 200 day simple moving average of $60.28.

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. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same quarter last year, the firm earned $0.45 earnings per share. Sell-side analysts predict that Boston Scientific will post 2.25 earnings per share for the current year.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,979 shares of company stock worth $3,418,529. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BSW Wealth Partners increased its holdings in Boston Scientific by 2.3% in the fourth quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock valued at $428,000 after buying an additional 165 shares in the last quarter. Allstate Corp increased its stake in shares of Boston Scientific by 2.9% during the fourth quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock worth $343,000 after purchasing an additional 165 shares in the last quarter. First Affirmative Financial Network increased its stake in shares of Boston Scientific by 4.3% during the first quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock worth $276,000 after purchasing an additional 166 shares in the last quarter. Valley National Advisers Inc. increased its stake in shares of Boston Scientific by 2.3% during the fourth quarter. Valley National Advisers Inc. now owns 7,526 shares of the medical equipment provider’s stock worth $435,000 after purchasing an additional 170 shares in the last quarter. Finally, Aveo Capital Partners LLC increased its stake in shares of Boston Scientific by 1.3% during the fourth quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock worth $742,000 after purchasing an additional 171 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.