Robert W. Baird Boosts Boston Scientific (NYSE:BSX) Price Target to $84.00

Boston Scientific (NYSE:BSX) had its price target boosted by Robert W. Baird from $79.00 to $84.00 in a research report released on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical equipment provider’s stock.

A number of other brokerages have also weighed in on BSX. BTIG Research reissued a buy rating and issued a $64.00 target price on shares of Boston Scientific in a research report on Friday, December 29th. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $60.00 to $72.00 and gave the company an overweight rating in a research report on Thursday, February 1st. StockNews.com lowered shares of Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. TD Cowen raised their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a report on Thursday, March 7th. Finally, Wells Fargo & Company upped their target price on shares of Boston Scientific from $70.00 to $72.00 and gave the company an overweight rating in a report on Thursday, February 1st. Three investment 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, the company presently has an average rating of Moderate Buy and an average price target of $75.09.

Boston Scientific Trading Down 0.1 %

NYSE BSX opened at $73.17 on Thursday. Boston Scientific has a 12 month low of $48.35 and a 12 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. The stock’s fifty day moving average price is $67.82 and its 200-day moving average price is $60.56. The stock has a market cap of $107.35 billion, a P/E ratio of 61.49, a P/E/G ratio of 2.52 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $3.73 billion for 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 period in the prior year, the firm posted $0.45 EPS. As a group, equities analysts forecast that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Activity

In related news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the sale, the director now owns 41,374 shares in the company, valued at approximately $2,690,551.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the transaction, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. increased its stake in Boston Scientific by 5.6% in the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock worth $27,353,000 after buying an additional 27,620 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $5,116,000. Glenmede Trust Co. NA boosted its holdings in shares of Boston Scientific by 12.1% in the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after purchasing an additional 1,123 shares during the period. Principal Financial Group Inc. grew its stake in Boston Scientific by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after purchasing an additional 38,249 shares in the last quarter. Finally, HealthInvest Partners AB purchased a new position in Boston Scientific during the 4th quarter worth $3,746,000. 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.