Evercore ISI Boosts Boston Scientific (NYSE:BSX) Price Target to $78.00

Boston Scientific (NYSE:BSX) had its target price lifted by Evercore ISI from $72.00 to $78.00 in a research note published on Thursday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the medical equipment provider’s stock.

A number of other analysts also recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a report on Thursday. StockNews.com downgraded Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. BTIG Research reiterated a buy rating and issued a $64.00 target price on shares of Boston Scientific in a report on Friday, December 29th. Needham & Company LLC increased their price target on Boston Scientific from $71.00 to $82.00 and gave the company a buy rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Three equities research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $75.09.

Boston Scientific Price Performance

NYSE:BSX opened at $73.17 on Thursday. The company has a market capitalization of $107.35 billion, a P/E ratio of 61.49, a P/E/G ratio of 2.51 and a beta of 0.78. The business’s 50-day moving average is $67.82 and its 200 day moving average is $60.63. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $74.39.

Boston Scientific (NYSE:BSX) last posted its 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. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the company earned $0.45 EPS. On average, equities research analysts forecast that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 value 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 approximately $3,509,213.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific 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 transaction, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was 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 directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock valued at $3,418,529 over the last three months. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BSX. Norges Bank acquired a new position in shares of Boston Scientific during the fourth quarter worth $930,626,000. FMR LLC raised its stake in Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after buying an additional 8,045,263 shares during the last quarter. Putnam Investments LLC boosted its holdings in Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after acquiring an additional 6,859,280 shares in the last quarter. Capital World Investors grew its stake in shares of Boston Scientific by 236.1% during the fourth quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after acquiring an additional 6,617,360 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Boston Scientific by 391.6% during the third quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock valued at $172,752,000 after acquiring an additional 2,606,253 shares in the last quarter. 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.