Royal Bank of Canada Increases Boston Scientific (NYSE:BSX) Price Target to $78.00

Boston Scientific (NYSE:BSX) had its price target boosted by Royal Bank of Canada from $70.00 to $78.00 in a research note published on Monday, Benzinga reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

Several other brokerages have also recently commented on BSX. Citigroup increased their price target on Boston Scientific from $71.00 to $79.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Argus raised their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Mizuho upgraded shares of Boston Scientific from a neutral rating to a buy rating and upped their price target for the company from $65.00 to $80.00 in a research note on Thursday, February 1st. Evercore ISI raised their price objective on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Finally, BTIG Research reaffirmed a buy rating and issued a $64.00 target price on shares of Boston Scientific in a research report on Friday, December 29th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of Moderate Buy and a consensus price target of $68.50.

Boston Scientific Stock Down 0.8 %

BSX stock opened at $67.42 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The stock has a market capitalization of $98.91 billion, a P/E ratio of 63.01, a P/E/G ratio of 2.39 and a beta of 0.78. The business has a 50-day moving average of $67.21 and a 200-day moving average of $59.74. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $69.21.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, sell-side analysts anticipate that Boston Scientific will post 2.25 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Boston Scientific

Several large investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Boston Scientific in the 1st quarter valued at about $31,000. Bruce G. Allen Investments LLC bought a new position in Boston Scientific in the 4th quarter valued at about $28,000. Frazier Financial Advisors LLC bought a new position in Boston Scientific in the 4th quarter valued at about $32,000. Sachetta LLC bought a new position in Boston Scientific in the 4th quarter valued at about $32,000. Finally, Jones Financial Companies Lllp lifted its position in Boston Scientific by 53.0% in the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 193 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.