Evercore ISI Boosts Boston Scientific (NYSE:BSX) Price Target to $78.00

Boston Scientific (NYSE:BSX) had its price objective lifted by Evercore ISI from $72.00 to $78.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

Several other brokerages also recently weighed in on BSX. BTIG Research reiterated a buy rating and issued a $64.00 price target on shares of Boston Scientific in a report on Friday, December 29th. TD Cowen boosted their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the company an outperform rating in a research note on Thursday, March 7th. Robert W. Baird upped their price target on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a report on Thursday. Oppenheimer boosted their price objective on shares of Boston Scientific from $58.00 to $68.00 and gave the company a market perform rating in a research report on Thursday, February 1st. Finally, Needham & Company LLC raised their target price on shares of Boston Scientific from $71.00 to $82.00 and gave the stock a buy rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $75.09.

Boston Scientific Stock Performance

NYSE BSX opened at $73.17 on Thursday. The company 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. The business’s 50 day moving average price is $67.82 and its 200-day moving average price is $60.56. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $74.39. 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 posted its quarterly earnings data 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. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. Sell-side analysts predict that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction 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 transaction, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction that occurred 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 completion of the sale, the director now owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock worth $3,418,529 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BSX. Norges Bank acquired a new stake in shares of Boston Scientific during the 4th quarter worth approximately $930,626,000. FMR LLC increased its stake in shares of Boston Scientific by 6.8% during 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 in the last quarter. Putnam Investments LLC lifted 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 valued at $755,436,000 after buying an additional 6,859,280 shares in the last quarter. Capital World Investors lifted its stake in 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 valued at $544,560,000 after buying an additional 6,617,360 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Boston Scientific by 391.6% in the 3rd quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after buying an additional 2,606,253 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.