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

Boston Scientific (NYSE:BSX) had its price objective upped by Citigroup from $79.00 to $85.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

BSX has been the topic of several other research reports. Wells Fargo & Company raised their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research report on Thursday. Robert W. Baird raised their price objective on shares of Boston Scientific from $79.00 to $84.00 and gave the company an outperform rating in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research report on Thursday. Argus raised their price objective on shares of Boston Scientific from $69.00 to $80.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Finally, UBS Group raised their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the company a buy rating in a research report on Thursday. Three 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 stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $75.09.

Boston Scientific Stock Performance

NYSE BSX opened at $73.17 on Thursday. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $74.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The stock has a market capitalization of $107.35 billion, a PE ratio of 61.49, a P/E/G ratio of 2.51 and a beta of 0.78. The company’s 50 day simple moving average is $67.82 and its two-hundred day simple moving average is $60.63.

Boston Scientific (NYSE:BSX) last posted its 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 for the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period in the prior year, the company posted $0.45 EPS. Analysts predict that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 13th. The shares were 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 of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction dated 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 directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. 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. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BSX. IFP Advisors Inc raised its holdings in Boston Scientific by 29.1% in the third quarter. IFP Advisors Inc now owns 5,026 shares of the medical equipment provider’s stock worth $265,000 after buying an additional 1,132 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Boston Scientific by 498.8% during the third quarter. Private Trust Co. NA now owns 5,132 shares of the medical equipment provider’s stock valued at $271,000 after purchasing an additional 4,275 shares during the last quarter. Czech National Bank raised its holdings in shares of Boston Scientific by 50.4% during the third quarter. Czech National Bank now owns 255,916 shares of the medical equipment provider’s stock valued at $13,512,000 after purchasing an additional 85,706 shares during the last quarter. Blue Fin Capital Inc. raised its holdings in shares of Boston Scientific by 19.9% during the third quarter. Blue Fin Capital Inc. now owns 8,024 shares of the medical equipment provider’s stock valued at $424,000 after purchasing an additional 1,334 shares during the last quarter. Finally, WS Portfolio Advisory LLC purchased a new position in shares of Boston Scientific during the third quarter valued at approximately $5,056,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.