Analysts Set Boston Scientific Corporation (NYSE:BSX) Target Price at $116.00

Boston Scientific Corporation (NYSE:BSX) has received a consensus rating of “Buy” from the twenty-four analysts that are presently covering the firm, MarketBeat reports. Twenty-one analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $116.09.

A number of research analysts have commented on the stock. Leerink Partners started coverage on shares of Boston Scientific in a research report on Monday. They set an “outperform” rating and a $118.00 price target on the stock. Robert W. Baird increased their price objective on Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. BTIG Research reissued a “buy” rating and set a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, April 23rd. Royal Bank Of Canada increased their price objective on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $115.00 price objective on shares of Boston Scientific in a research note on Wednesday, May 28th.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the transaction, the chief executive officer now owns 1,535,706 shares of the company’s stock, valued at $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 411,970 shares of company stock valued at $42,406,693. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors and hedge funds have recently modified their holdings of BSX. Brighton Jones LLC increased its holdings in shares of Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock valued at $2,445,000 after acquiring an additional 226 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Boston Scientific in the 4th quarter worth about $33,074,000. Kingsview Wealth Management LLC increased its holdings in Boston Scientific by 9.9% in the 4th quarter. Kingsview Wealth Management LLC now owns 6,563 shares of the medical equipment provider’s stock worth $586,000 after buying an additional 593 shares in the last quarter. Empowered Funds LLC increased its holdings in Boston Scientific by 13.7% in the 4th quarter. Empowered Funds LLC now owns 26,615 shares of the medical equipment provider’s stock worth $2,377,000 after buying an additional 3,202 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in Boston Scientific in the 4th quarter worth about $214,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Down 0.4%

Shares of NYSE BSX opened at $101.36 on Thursday. Boston Scientific has a one year low of $71.88 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The firm’s 50 day simple moving average is $101.44 and its two-hundred day simple moving average is $98.91. The stock has a market capitalization of $149.96 billion, a P/E ratio of 73.99, a PEG ratio of 2.63 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the business earned $0.56 earnings per share. The business’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, analysts expect that Boston Scientific will post 2.85 EPS for the current fiscal year.

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.