Boston Scientific (NYSE:BSX) Price Target Raised to $116.00 at Royal Bank of Canada

Boston Scientific (NYSE:BSX) had its price objective increased by stock analysts at Royal Bank of Canada from $105.00 to $116.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 10.14% from the company’s current price.

A number of other research firms also recently weighed in on BSX. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Friday, January 10th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Bank of America upped their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Citigroup increased their price target on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday. Finally, Sanford C. Bernstein increased their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boston Scientific has an average rating of “Buy” and an average target price of $104.13.

Boston Scientific Trading Up 0.3 %

Shares of BSX traded up $0.35 during trading hours on Thursday, hitting $105.32. The company had a trading volume of 2,134,038 shares, compared to its average volume of 6,104,432. The firm has a market cap of $155.22 billion, a P/E ratio of 87.03, a P/E/G ratio of 2.68 and a beta of 0.80. The stock’s 50 day moving average price is $94.30 and its 200 day moving average price is $86.84. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific has a 52-week low of $64.39 and a 52-week high of $107.17.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. On average, research analysts predict that Boston Scientific will post 2.46 EPS for the current year.

Insiders Place Their Bets

In related news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,302 shares of company stock valued at $4,464,725 over the last 90 days. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors and hedge funds have recently bought and sold shares of BSX. CRA Financial Services LLC increased its stake in shares of Boston Scientific by 4.3% during the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in Boston Scientific by 9.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after acquiring an additional 119 shares in the last quarter. Adero Partners LLC grew its stake in Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after acquiring an additional 120 shares in the last quarter. Grove Bank & Trust grew its stake in Boston Scientific by 4.4% during the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock valued at $261,000 after acquiring an additional 122 shares in the last quarter. Finally, PFG Investments LLC grew its stake in Boston Scientific by 1.6% during the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock valued at $725,000 after acquiring an additional 125 shares in the last quarter. 89.07% of the stock is 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.