Boston Scientific (NYSE:BSX) PT Raised to $85.00

Boston Scientific (NYSE:BSX) had its price target boosted by investment analysts at Raymond James from $73.00 to $85.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the medical equipment provider’s stock. Raymond James’ price target suggests a potential upside of 16.23% from the stock’s current price.

A number of other research firms have also recently issued reports on BSX. UBS Group lifted their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird lifted their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Citigroup lifted their target price on shares of Boston Scientific from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Evercore ISI lifted their target price on shares of Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.09.

Boston Scientific Stock Performance

BSX stock opened at $73.13 on Thursday. 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 cap of $107.29 billion, a P/E ratio of 61.45, a P/E/G ratio of 2.48 and a beta of 0.78. The firm has a 50 day simple moving average of $67.82 and a 200 day simple moving average of $60.51. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $74.39.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 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 analysts’ expectations of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period last year, the company posted $0.45 earnings per share. Research analysts anticipate that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,979 shares of company stock worth $3,418,529. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of institutional investors and hedge funds have recently modified their holdings of BSX. IFP Advisors Inc increased its position in shares of Boston Scientific by 29.1% during the third quarter. IFP Advisors Inc now owns 5,026 shares of the medical equipment provider’s stock valued at $265,000 after purchasing an additional 1,132 shares during the period. Private Trust Co. NA grew its position in Boston Scientific by 498.8% in the third quarter. Private Trust Co. NA now owns 5,132 shares of the medical equipment provider’s stock valued at $271,000 after acquiring an additional 4,275 shares during the period. Czech National Bank grew its position in Boston Scientific by 50.4% in the third quarter. Czech National Bank now owns 255,916 shares of the medical equipment provider’s stock valued at $13,512,000 after acquiring an additional 85,706 shares during the period. Blue Fin Capital Inc. grew its position in Boston Scientific by 19.9% in the third quarter. Blue Fin Capital Inc. now owns 8,024 shares of the medical equipment provider’s stock valued at $424,000 after acquiring an additional 1,334 shares during the period. Finally, WS Portfolio Advisory LLC bought a new stake in Boston Scientific in the third quarter valued at $5,056,000. 89.07% of the stock is currently owned by institutional investors.

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.