Boston Scientific (NYSE:BSX) Price Target Raised to $82.00

Boston Scientific (NYSE:BSX) had its price target hoisted by JPMorgan Chase & Co. from $72.00 to $82.00 in a research report report published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical equipment provider’s stock.

Several other research firms also recently issued reports on BSX. Mizuho lifted their price target on Boston Scientific from $80.00 to $85.00 and gave the stock a buy rating in a research note on Thursday. Raymond James lifted their price target on Boston Scientific from $73.00 to $85.00 and gave the stock a strong-buy rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Scientific from $63.00 to $73.00 and gave the stock a hold rating in a research report on Thursday. Argus lifted their price objective on Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Finally, StockNews.com cut Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $75.09.

Boston Scientific Price Performance

Boston Scientific stock opened at $73.17 on Thursday. The company has a market cap of $107.35 billion, a P/E ratio of 61.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. 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 has a one year low of $48.35 and a one year high of $74.39. The business has a fifty day moving average of $67.82 and a two-hundred day moving average of $60.63.

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

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction that occurred 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 filing with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, 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 ninety days, insiders have sold 50,979 shares of company stock valued at $3,418,529. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its holdings in shares of Boston Scientific by 5.6% in the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after acquiring an additional 27,620 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $5,116,000. Glenmede Trust Co. NA increased its holdings in shares of Boston Scientific by 12.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after acquiring an additional 1,123 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Boston Scientific by 2.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock valued at $98,683,000 after acquiring an additional 38,249 shares during the last quarter. Finally, HealthInvest Partners AB bought a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $3,746,000. 89.07% of the stock is 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.