Royal Bank of Canada Increases Boston Scientific (NYSE:BSX) Price Target to $82.00

Boston Scientific (NYSE:BSX) had its target price hoisted by equities research analysts at Royal Bank of Canada from $78.00 to $82.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 12.13% from the stock’s current price.

BSX has been the topic of a number of other reports. Raymond James increased their price objective on shares of Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Thursday. Robert W. Baird increased their price objective on shares of Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday. Evercore ISI increased their price objective on shares of Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Finally, Needham & Company LLC increased their price objective on shares of Boston Scientific from $71.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $75.09.

Boston Scientific Price Performance

BSX opened at $73.13 on Thursday. The company has a fifty day simple moving average of $67.82 and a 200 day simple moving average of $60.51. 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. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates 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 business earned $0.45 EPS. Equities research analysts expect that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $66.35, for a total transaction of $463,322.05. Following the sale, the executive vice president now directly owns 53,788 shares in the company, valued at approximately $3,568,833.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated 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 in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock valued at $3,418,529 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific during the 1st quarter worth about $31,000. YHB Investment Advisors Inc. bought a new stake in shares of Boston Scientific in the 1st quarter worth approximately $32,000. Bruce G. Allen Investments LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $28,000. Frazier Financial Advisors LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $32,000. Finally, Sachetta LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $32,000. 89.07% of the stock is currently owned by 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.