Boston Scientific (NYSE:BSX) Price Target Raised to $85.00

Boston Scientific (NYSE:BSX) had its price objective hoisted by investment analysts at Mizuho from $80.00 to $85.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Mizuho’s target price points to a potential upside of 16.23% from the stock’s current price.

BSX has been the topic of a number of other research reports. Evercore ISI upped their price objective on Boston Scientific from $72.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday. BTIG Research reissued a “buy” rating and issued a $64.00 price objective on shares of Boston Scientific in a research report on Friday, December 29th. Royal Bank of Canada upped their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Robert W. Baird boosted their price target on Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Citigroup lifted their target price on Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.09.

Boston Scientific Stock Down 0.2 %

NYSE:BSX opened at $73.13 on Thursday. 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 has a 1 year low of $48.35 and a 1 year high of $74.39. The stock has a 50-day moving average price of $67.82 and a two-hundred day moving average price of $60.51. The stock 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 (NYSE:BSX) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. The company 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 business earned $0.45 EPS. As a group, equities analysts expect that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now directly owns 271,542 shares in the company, valued at $17,883,756.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 50,638 shares of the company’s stock, 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 over the last quarter. 0.50% of the stock is owned by company insiders.

Institutional Trading of Boston Scientific

Several hedge funds have recently bought and sold shares of the business. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific in the 1st quarter worth $31,000. YHB Investment Advisors Inc. purchased a new stake in shares of Boston Scientific during the 1st quarter valued at $32,000. Bruce G. Allen Investments LLC purchased a new position in shares of Boston Scientific in the 4th quarter worth about $28,000. Frazier Financial Advisors LLC bought a new position in Boston Scientific during the fourth quarter valued at $32,000. Finally, Sachetta LLC purchased a new stake in Boston Scientific in the fourth quarter worth $32,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.