Citigroup Raises Boston Scientific (NYSE:BSX) Price Target to $87.00

Boston Scientific (NYSE:BSX) had its price objective boosted by Citigroup from $85.00 to $87.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

A number of other brokerages have also recently weighed in on BSX. UBS Group boosted their price objective on Boston Scientific from $74.00 to $90.00 and gave the company a buy rating in a research note on Thursday, April 25th. Argus upped their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the company a buy rating in a report on Wednesday, April 3rd. StockNews.com cut Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Wells Fargo & Company increased their price objective on Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a research report on Thursday, April 25th. Finally, Oppenheimer boosted their target price on Boston Scientific from $58.00 to $68.00 and gave the company a market perform rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $75.41.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $75.64 on Wednesday. The stock’s 50-day simple moving average is $70.61 and its 200-day simple moving average is $63.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The firm has a market capitalization of $110.97 billion, a PE ratio of 63.56, a price-to-earnings-growth ratio of 2.59 and a beta of 0.77. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $76.25.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. As a group, equities research analysts forecast that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In related news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $74.14, for a total value of $958,704.34. Following the sale, the executive vice president now directly owns 31,422 shares in the company, valued at approximately $2,329,627.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Eric Francis Yves Thepaut sold 12,931 shares of Boston Scientific stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $74.14, for a total transaction of $958,704.34. Following the completion of the transaction, the executive vice president now directly owns 31,422 shares in the company, valued at approximately $2,329,627.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the sale, the director now owns 41,374 shares in the company, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,616 shares of company stock valued at $4,819,057. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in Boston Scientific by 2.7% during the third quarter. US Bancorp DE now owns 443,737 shares of the medical equipment provider’s stock worth $23,506,000 after acquiring an additional 11,641 shares during the last quarter. ORG Partners LLC grew its position in shares of Boston Scientific by 612.5% in the third quarter. ORG Partners LLC now owns 1,140 shares of the medical equipment provider’s stock valued at $60,000 after purchasing an additional 980 shares during the period. Corient Private Wealth LLC increased its stake in Boston Scientific by 2.2% in the third quarter. Corient Private Wealth LLC now owns 178,806 shares of the medical equipment provider’s stock valued at $9,443,000 after purchasing an additional 3,776 shares during the last quarter. Signaturefd LLC lifted its position in Boston Scientific by 10.2% during the third quarter. Signaturefd LLC now owns 25,031 shares of the medical equipment provider’s stock worth $1,322,000 after buying an additional 2,317 shares during the period. Finally, Syon Capital LLC purchased a new stake in Boston Scientific in the 3rd quarter valued at about $964,000. Institutional investors and hedge funds 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.