Boston Scientific (NYSE:BSX) Price Target Increased to $73.00 by Analysts at Deutsche Bank Aktiengesellschaft

Boston Scientific (NYSE:BSX) had its target price lifted by Deutsche Bank Aktiengesellschaft from $63.00 to $73.00 in a report issued on Thursday morning, Benzinga reports. They currently have a hold rating on the medical equipment provider’s stock.

BSX has been the subject of several other reports. Citigroup lifted their target price on Boston Scientific from $71.00 to $79.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. TD Cowen upped their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the company an outperform rating in a report on Thursday, March 7th. Robert W. Baird lifted their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a report on Thursday. Mizuho increased their price target on shares of Boston Scientific from $80.00 to $85.00 and gave the company a buy rating in a report on Thursday. Finally, Needham & Company LLC boosted their price objective on Boston Scientific from $71.00 to $82.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $75.09.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $73.17 on Thursday. The stock has a market capitalization of $107.35 billion, a PE ratio of 61.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $74.39. The stock has a 50 day moving average price of $67.82 and a 200 day moving average price of $60.63. 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 announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same quarter last year, the firm posted $0.45 EPS. Analysts predict that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the transaction, the chief financial officer now owns 271,542 shares in the company, valued at approximately $17,883,756.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP John Bradley Sorenson sold 16,351 shares of the 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 sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Boston Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific in the 1st quarter valued at $31,000. YHB Investment Advisors Inc. bought a new stake in Boston Scientific during the first quarter valued at $32,000. Bruce G. Allen Investments LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at about $28,000. Frazier Financial Advisors LLC bought a new position in shares of Boston Scientific during the 4th quarter worth approximately $32,000. Finally, Sachetta LLC acquired a new stake in shares of Boston Scientific during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.