Boston Scientific (NYSE:BSX) Price Target Increased to $82.00 by Analysts at Royal Bank of Canada

Boston Scientific (NYSE:BSX) had its price objective 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 research analysts also recently weighed in on the company. StockNews.com downgraded Boston Scientific from a buy rating to a hold rating in a report on Saturday, March 16th. Wells Fargo & Company increased their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a research report on Thursday. Citigroup upped their price objective on shares of Boston Scientific from $71.00 to $79.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. TD Cowen lifted their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the company an outperform rating in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. upped their target price on Boston Scientific from $60.00 to $72.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $75.09.

Boston Scientific Trading Down 0.1 %

Shares of NYSE BSX opened at $73.17 on Thursday. The business has a fifty day simple moving average of $67.82 and a 200-day simple moving average of $60.63. The company has a market cap of $107.35 billion, a price-to-earnings ratio of 61.49, a P/E/G ratio of 2.51 and a beta of 0.78. Boston Scientific has a 12 month low of $48.35 and a 12 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.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the company posted $0.45 earnings per share. Sell-side analysts predict that Boston Scientific will post 2.32 EPS for the current year.

Insider Transactions at Boston Scientific

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

Institutional Trading of Boston Scientific

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Boston Scientific during the 4th quarter worth approximately $930,626,000. FMR LLC raised its position in Boston Scientific by 6.8% in the 3rd quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after purchasing an additional 8,045,263 shares during the last quarter. Putnam Investments LLC grew its holdings in shares of Boston Scientific by 110.5% during the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after purchasing an additional 6,859,280 shares during the last quarter. Capital World Investors raised its holdings in shares of Boston Scientific by 236.1% in the fourth quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after buying an additional 6,617,360 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Boston Scientific by 391.6% during the 3rd quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after acquiring an additional 2,606,253 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.