Boston Scientific (NYSE:BSX) Price Target Raised to $85.00

Boston Scientific (NYSE:BSX) had its target price lifted by Raymond James from $73.00 to $85.00 in a report released on Thursday morning, Benzinga reports. They currently have a strong-buy rating on the medical equipment provider’s stock.

Several other research firms have also recently weighed in on BSX. Citigroup boosted their price objective on shares of Boston Scientific from $71.00 to $79.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Argus raised their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. StockNews.com downgraded shares of Boston Scientific from a buy rating to a hold rating in a research note on Saturday, March 16th. BTIG Research reiterated a buy rating and issued a $64.00 price objective on shares of Boston Scientific in a report on Friday, December 29th. Finally, Evercore ISI raised their target price on Boston Scientific from $72.00 to $78.00 and gave the stock an outperform rating in a report on Thursday. Three investment 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’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $75.09.

Boston Scientific Price Performance

Shares of BSX stock opened at $73.17 on Thursday. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $74.39. The stock has a market capitalization of $107.35 billion, a PE ratio of 61.49, a PEG 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. The stock’s fifty day moving average is $67.82 and its 200-day moving average is $60.63.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. Equities research analysts expect that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In other 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following 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. Also, Director Edward J. Ludwig sold 7,000 shares of the business’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 sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,979 shares of company stock valued at $3,418,529. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. IFP Advisors Inc lifted its stake in Boston Scientific by 29.1% in the 3rd quarter. IFP Advisors Inc now owns 5,026 shares of the medical equipment provider’s stock valued at $265,000 after purchasing an additional 1,132 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Boston Scientific by 498.8% in the 3rd quarter. Private Trust Co. NA now owns 5,132 shares of the medical equipment provider’s stock valued at $271,000 after acquiring an additional 4,275 shares during the last quarter. Czech National Bank boosted its holdings in shares of Boston Scientific by 50.4% during the 3rd quarter. Czech National Bank now owns 255,916 shares of the medical equipment provider’s stock valued at $13,512,000 after acquiring an additional 85,706 shares in the last quarter. Blue Fin Capital Inc. grew its position in Boston Scientific by 19.9% during the 3rd quarter. Blue Fin Capital Inc. now owns 8,024 shares of the medical equipment provider’s stock worth $424,000 after acquiring an additional 1,334 shares during the last quarter. Finally, WS Portfolio Advisory LLC acquired a new position in Boston Scientific in the 3rd quarter worth about $5,056,000. Institutional investors own 89.07% of the company’s stock.

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.