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

Boston Scientific (NYSE:BSX) had its price objective boosted by Mizuho from $80.00 to $85.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

A number of other research analysts have also weighed in on BSX. Wells Fargo & Company raised their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research note on Thursday. BTIG Research reiterated a buy rating and set a $64.00 price target on shares of Boston Scientific in a research note on Friday, December 29th. Oppenheimer raised their target price on Boston Scientific from $58.00 to $68.00 and gave the company a market perform rating in a report on Thursday, February 1st. Raymond James increased their price target on Boston Scientific from $67.00 to $73.00 and gave the company a strong-buy rating in a research report on Thursday, February 1st. Finally, Royal Bank of Canada upped their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Three equities 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. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $75.09.

Boston Scientific Stock Performance

BSX opened at $73.17 on Thursday. The business’s 50-day simple moving average is $67.82 and its 200 day simple moving average is $60.56. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $74.39. The firm has a market capitalization of $107.35 billion, a PE ratio of 61.49, a PEG ratio of 2.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data 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 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 quarter in the previous year, the business posted $0.45 EPS. As a group, sell-side analysts expect that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the transaction, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. 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. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in Boston Scientific in the 4th quarter worth about $930,626,000. FMR LLC increased its position 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 worth $6,648,595,000 after purchasing an additional 8,045,263 shares during the last quarter. Putnam Investments LLC grew its stake in Boston Scientific by 110.5% in the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after buying an additional 6,859,280 shares in the last quarter. Capital World Investors increased its holdings in shares of Boston Scientific by 236.1% in the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after buying an additional 6,617,360 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Boston Scientific by 391.6% during the 3rd quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock valued at $172,752,000 after buying an additional 2,606,253 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.