Boston Scientific (NYSE:BSX) Price Target Increased to $85.00 by Analysts at Citigroup

Boston Scientific (NYSE:BSX) had its price objective raised by investment analysts at Citigroup from $79.00 to $85.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price objective suggests a potential upside of 16.23% from the stock’s current price.

BSX has been the subject of several other research reports. UBS Group boosted their price target on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird boosted their price target on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company boosted their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday. Oppenheimer boosted their price target on shares of Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, February 1st. Finally, StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $75.09.

Boston Scientific Stock Down 0.2 %

Shares of NYSE BSX opened at $73.13 on Thursday. The firm has a market cap of $107.29 billion, a price-to-earnings ratio of 61.45, a PEG ratio of 2.48 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $74.39. The business’s 50 day moving average is $67.82 and its two-hundred day moving average is $60.51.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same quarter in the previous year, the company earned $0.45 earnings per share. Research analysts predict that Boston Scientific will post 2.32 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the sale, the director now directly owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock worth $3,418,529 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC raised its holdings 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 buying an additional 8,045,263 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Boston Scientific by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock valued at $7,252,253,000 after buying an additional 1,681,454 shares during the last quarter. Wellington Management Group LLP raised its holdings in Boston Scientific by 5.9% during the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after purchasing an additional 2,336,348 shares in the last quarter. Primecap Management Co. CA raised its holdings in Boston Scientific by 1.5% during the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after purchasing an additional 550,490 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Boston Scientific by 2.3% during the third quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock worth $1,119,378,000 after purchasing an additional 481,891 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.