Robert W. Baird Boosts Boston Scientific (NYSE:BSX) Price Target to $84.00

Boston Scientific (NYSE:BSX) had its price target increased by analysts at Robert W. Baird from $79.00 to $84.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Robert W. Baird’s target price would indicate a potential upside of 15.21% from the stock’s current price.

BSX has been the subject of several other research reports. TD Cowen lifted their price objective on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Wells Fargo & Company lifted their price objective on Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Oppenheimer lifted their price objective on Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, February 1st. Finally, Citigroup lifted their price objective on Boston Scientific from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Two 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.95.

Boston Scientific Trading Up 5.7 %

NYSE:BSX opened at $72.91 on Thursday. The company has a market cap of $106.97 billion, a P/E ratio of 68.14, a P/E/G ratio of 2.42 and a beta of 0.78. The stock’s fifty day moving average price is $67.53 and its two-hundred day moving average price is $60.28. 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.

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 firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, analysts expect that Boston Scientific will post 2.25 EPS for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific 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 directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific 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 directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock worth $3,418,529 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Hedge funds have recently made changes to their positions in the stock. BSW Wealth Partners lifted its position in Boston Scientific by 2.3% in the 4th quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock valued at $428,000 after acquiring an additional 165 shares in the last quarter. Allstate Corp lifted its position in Boston Scientific by 2.9% in the 4th quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock valued at $343,000 after acquiring an additional 165 shares in the last quarter. First Affirmative Financial Network lifted its position in Boston Scientific by 4.3% in the 1st quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock valued at $276,000 after acquiring an additional 166 shares in the last quarter. Valley National Advisers Inc. lifted its position in Boston Scientific by 2.3% in the 4th quarter. Valley National Advisers Inc. now owns 7,526 shares of the medical equipment provider’s stock valued at $435,000 after acquiring an additional 170 shares in the last quarter. Finally, Aveo Capital Partners LLC lifted its position in Boston Scientific by 1.3% in the 4th quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock valued at $742,000 after acquiring an additional 171 shares in the last quarter. 89.07% of the stock is owned by 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.