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

Boston Scientific (NYSE:BSX) had its price target upped by Royal Bank of Canada from $78.00 to $82.00 in a research report released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical equipment provider’s stock.

A number of other equities analysts have also issued reports on BSX. Raymond James upped their target price on Boston Scientific from $73.00 to $85.00 and gave the company a strong-buy rating in a research report on Thursday. Robert W. Baird upped their price target on shares of Boston Scientific from $79.00 to $84.00 and gave the company an outperform rating in a report on Thursday. StockNews.com lowered shares of Boston Scientific from a buy rating to a hold rating in a research note on Saturday, March 16th. Mizuho upped their price objective on Boston Scientific from $80.00 to $85.00 and gave the company a buy rating in a research note on Thursday. Finally, TD Cowen boosted their price target on Boston Scientific from $65.00 to $77.00 and gave the company an outperform rating in a report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific currently has an average rating of Moderate Buy and an average price target of $75.09.

Boston Scientific Price Performance

BSX opened at $73.17 on Thursday. 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. The firm has a market cap of $107.35 billion, a price-to-earnings ratio of 61.49, a PEG ratio of 2.52 and a beta of 0.78. The company has a fifty day simple moving average of $67.82 and a 200 day simple moving average of $60.56.

Boston Scientific (NYSE:BSX) last announced its earnings results 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. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the firm earned $0.45 earnings per share. 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 related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now directly owns 271,542 shares in the company, valued at $17,883,756.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the transaction, 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 have sold a total of 50,979 shares of company stock worth $3,418,529 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc raised its position in Boston Scientific by 29.1% in the third quarter. IFP Advisors Inc now owns 5,026 shares of the medical equipment provider’s stock worth $265,000 after purchasing an additional 1,132 shares in the last quarter. Private Trust Co. NA grew its position in Boston Scientific by 498.8% in the third quarter. Private Trust Co. NA now owns 5,132 shares of the medical equipment provider’s stock valued at $271,000 after acquiring an additional 4,275 shares during the period. Czech National Bank raised its stake in Boston Scientific by 50.4% during the third quarter. Czech National Bank now owns 255,916 shares of the medical equipment provider’s stock worth $13,512,000 after acquiring an additional 85,706 shares in the last quarter. Blue Fin Capital Inc. lifted its holdings in shares of Boston Scientific by 19.9% during the third quarter. Blue Fin Capital Inc. now owns 8,024 shares of the medical equipment provider’s stock valued at $424,000 after acquiring an additional 1,334 shares during the period. Finally, WS Portfolio Advisory LLC acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at $5,056,000. 89.07% of the stock is owned by 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.