Wells Fargo & Company Increases Boston Scientific (NYSE:BSX) Price Target to $82.00

Boston Scientific (NYSE:BSX) had its price objective increased by equities researchers at Wells Fargo & Company from $72.00 to $82.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 12.13% from the stock’s previous close.

A number of other research analysts have also weighed in on BSX. Robert W. Baird raised their price objective on Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday. Oppenheimer increased their target price on Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. increased their target price on Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Royal Bank of Canada increased their target price on Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, BTIG Research reiterated a “buy” rating and set a $64.00 target price on shares of Boston Scientific in a research note on Friday, December 29th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.09.

Boston Scientific Stock Down 0.2 %

BSX stock opened at $73.13 on Thursday. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The firm has a market cap of $107.29 billion, a PE ratio of 61.45, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. The business has a 50 day moving average of $67.82 and a 200 day moving average of $60.51.

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 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 analyst estimates of $3.59 billion. During the same quarter last year, the company earned $0.45 EPS. On average, research analysts forecast that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the sale, the director now directly owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently made changes to their positions in the company. Bruce G. Allen Investments LLC bought a new stake in shares of Boston Scientific in the fourth quarter worth about $28,000. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific in the first quarter worth about $31,000. Sachetta LLC bought a new stake in shares of Boston Scientific in the fourth quarter worth about $32,000. Frazier Financial Advisors LLC bought a new stake in shares of Boston Scientific in the fourth quarter worth about $32,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Boston Scientific by 53.0% in the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 193 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

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.