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

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

BSX has been the topic of a number of other research reports. Oppenheimer raised their price objective 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. Mizuho lifted their price objective on shares of Boston Scientific from $80.00 to $85.00 and gave the company a buy rating in a research report on Thursday. TD Cowen lifted their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the company an outperform rating in a research report on Thursday, March 7th. StockNews.com lowered shares of Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Finally, Evercore ISI lifted their price objective on shares of Boston Scientific from $72.00 to $78.00 and gave the company an outperform rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $74.27.

Boston Scientific Stock Down 0.0 %

Boston Scientific stock traded down $0.02 during trading on Thursday, reaching $73.24. The stock had a trading volume of 351,068 shares, compared to its average volume of 6,485,329. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $74.39. The business has a 50 day moving average price of $67.68 and a 200 day moving average price of $60.37. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The stock has a market cap of $107.45 billion, a PE ratio of 61.60, a P/E/G ratio of 2.48 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, analysts predict that Boston Scientific will post 2.32 EPS for the current year.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $66.35, for a total transaction of $463,322.05. Following the completion of the transaction, the executive vice president now directly owns 53,788 shares in the company, valued at approximately $3,568,833.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 16,351 shares of the 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 owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in shares of Boston Scientific by 5.6% during the 3rd 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 acquired a new position in shares of Boston Scientific during the fourth quarter valued at $5,116,000. Glenmede Trust Co. NA increased its holdings in shares of Boston Scientific by 12.1% during the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after purchasing an additional 1,123 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Boston Scientific by 2.1% during the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock valued at $98,683,000 after purchasing an additional 38,249 shares during the period. Finally, HealthInvest Partners AB bought a new position in Boston Scientific during the fourth quarter valued at about $3,746,000. 89.07% of the stock is currently 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.