Boston Scientific (NYSE:BSX) Price Target Raised to $80.00 at Argus

Boston Scientific (NYSE:BSXGet Free Report) had its price target increased by research analysts at Argus from $69.00 to $80.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Argus’ price objective indicates a potential upside of 17.01% from the stock’s previous close.

Several other equities research analysts also recently commented on BSX. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. BTIG Research reiterated a “buy” rating and set a $64.00 price objective on shares of Boston Scientific in a research note on Friday, December 29th. Oppenheimer raised their target price on shares of Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. raised their target price on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 16th. Two 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.59.

Check Out Our Latest Report on Boston Scientific

Boston Scientific Stock Up 1.4 %

BSX stock traded up $0.92 during trading on Wednesday, hitting $68.37. 1,982,705 shares of the company’s stock traded hands, compared to its average volume of 6,407,004. The firm has a market capitalization of $100.50 billion, a P/E ratio of 63.93, a PEG ratio of 2.39 and a beta of 0.78. The business has a fifty day simple moving average of $65.98 and a two-hundred day simple moving average of $58.57. 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 1 year low of $48.35 and a 1 year high of $68.92.

Boston Scientific (NYSE:BSXGet Free Report) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same period last year, the firm earned $0.45 earnings per share. Sell-side analysts anticipate that Boston Scientific will post 2.25 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other news, 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 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 SEC, which is accessible through this hyperlink. In other news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction 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 owns 50,638 shares in the company, valued at approximately $3,509,213.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The disclosure for this sale can be found here. Insiders have sold 92,811 shares of company stock worth $5,893,070 in the last ninety days. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC grew its holdings in shares of Boston Scientific by 112,306.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,661,660 shares of the medical equipment provider’s stock worth $863,475,000 after buying an additional 18,645,058 shares in the last quarter. Norges Bank purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $930,626,000. FMR LLC grew its holdings in shares of Boston Scientific by 6.8% during the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after buying an additional 8,045,263 shares in the last quarter. Putnam Investments LLC grew its holdings in shares of Boston Scientific by 110.5% during the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after buying an additional 6,859,280 shares in the last quarter. Finally, Capital World Investors grew its holdings 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 buying an additional 6,617,360 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

About Boston Scientific

(Get Free Report)

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.

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