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

Boston Scientific (NYSE:BSX) had its price target upped by Mizuho from $80.00 to $85.00 in a research note issued to investors on Thursday, Benzinga reports. Mizuho currently has a buy rating on the medical equipment provider’s stock.

Several other equities analysts have also commented on the stock. Needham & Company LLC increased their price objective on shares of Boston Scientific from $71.00 to $82.00 and gave the company a buy rating in a research report on Wednesday, April 24th. StockNews.com cut Boston Scientific from a buy rating to a hold rating in a research note on Saturday, March 16th. Royal Bank of Canada upped their price objective on Boston Scientific from $70.00 to $78.00 and gave the company an outperform rating in a research report on Monday, April 15th. Citigroup lifted their target price on Boston Scientific from $71.00 to $79.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company increased their price target on Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific has an average rating of Moderate Buy and a consensus price target of $75.09.

Boston Scientific Stock Down 0.1 %

BSX opened at $73.17 on Thursday. The company 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. The firm has a 50-day simple moving average of $67.82 and a two-hundred day simple moving average of $60.63. 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 has a 52 week low of $48.35 and a 52 week high of $74.39.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results 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 analyst estimates of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same period in the prior year, the company earned $0.45 earnings per share. Analysts forecast that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific 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 directly owns 50,638 shares in the company, valued at $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, 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 transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. In the last 90 days, 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

Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Boston Scientific by 5.6% in the third 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 in the last quarter. Louisiana State Employees Retirement System purchased a new position in Boston Scientific during the 4th quarter worth $5,116,000. Glenmede Trust Co. NA increased its position in Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after buying an additional 1,123 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Boston Scientific by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after acquiring an additional 38,249 shares in the last quarter. Finally, HealthInvest Partners AB purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $3,746,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.