JPMorgan Chase & Co. Increases Boston Scientific (NYSE:BSX) Price Target to $82.00

Boston Scientific (NYSE:BSX) had its price target boosted by analysts at JPMorgan Chase & Co. from $72.00 to $82.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 12.13% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. TD Cowen lifted their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. 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. 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. Needham & Company LLC boosted their price target on shares of Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Mizuho upped their target price on shares of Boston Scientific from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.09.

Boston Scientific Price Performance

Shares of BSX opened at $73.13 on Thursday. The company has a market capitalization of $107.29 billion, a P/E ratio of 61.45, a price-to-earnings-growth 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. The firm has a 50 day moving average of $67.82 and a 200 day moving average of $60.51. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The company 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 12.06% and a return on equity of 16.63%. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, equities research analysts anticipate that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the 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 completion of the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,979 shares of company stock valued at $3,418,529. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Foster Victor Wealth Advisors LLC increased its position in shares of Boston Scientific by 5.8% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 201,277 shares of the medical equipment provider’s stock worth $13,856,000 after purchasing an additional 11,047 shares during the last quarter. K.J. Harrison & Partners Inc purchased a new position in Boston Scientific during the 1st quarter valued at about $3,377,000. Pinnacle Associates Ltd. boosted its holdings in Boston Scientific by 2.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after acquiring an additional 148 shares during the period. Aspen Investment Management Inc boosted its holdings in Boston Scientific by 14.2% during the 1st quarter. Aspen Investment Management Inc now owns 5,522 shares of the medical equipment provider’s stock valued at $378,000 after acquiring an additional 687 shares during the period. Finally, Highview Capital Management LLC DE boosted its holdings in Boston Scientific by 65.7% during the 1st quarter. Highview Capital Management LLC DE now owns 18,280 shares of the medical equipment provider’s stock valued at $1,252,000 after acquiring an additional 7,245 shares during the period. 89.07% of the stock is 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.