Boston Scientific (NYSE:BSX) Price Target Raised to $82.00 at Wells Fargo & Company

Boston Scientific (NYSE:BSX) had its price objective boosted by Wells Fargo & Company from $72.00 to $82.00 in a research note released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical equipment provider’s stock.

Several other analysts have also commented on the company. Argus boosted their price target on Boston Scientific from $69.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Needham & Company LLC lifted their price target on shares of Boston Scientific from $71.00 to $82.00 and gave the stock a buy rating in a report on Wednesday. Citigroup lifted their price target on shares of Boston Scientific from $71.00 to $79.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. BTIG Research reissued a buy rating and set a $64.00 target price on shares of Boston Scientific in a research report on Friday, December 29th. Finally, Oppenheimer boosted their price target 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. Three equities research 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 stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $74.27.

Boston Scientific Stock Performance

NYSE BSX traded down $0.02 on Thursday, hitting $73.24. 351,068 shares of the company’s stock traded hands, compared to its average volume of 6,485,329. The firm has a market capitalization of $107.45 billion, a PE ratio of 61.60, a P/E/G ratio of 2.48 and a beta of 0.78. The firm’s 50-day moving average price is $67.68 and its two-hundred day moving average price is $60.37. 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 1-year low of $48.35 and a 1-year high of $74.39.

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. 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 12.06% and a return on equity of 16.63%. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, analysts expect that Boston Scientific will post 2.32 EPS for the current year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the company’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 sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’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 transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now owns 271,542 shares in the company, valued at approximately $17,883,756.12. The disclosure for this sale can be found here. In the last three months, insiders sold 50,979 shares of company stock valued at $3,418,529. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Boston Scientific by 5.6% during the third 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 purchased a new position in shares of Boston Scientific in the 4th quarter worth about $5,116,000. Glenmede Trust Co. NA grew its position in shares of Boston Scientific by 12.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after acquiring an additional 1,123 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Boston Scientific by 2.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after buying an additional 38,249 shares in the last quarter. Finally, HealthInvest Partners AB bought a new stake in shares of Boston Scientific during the 4th quarter worth about $3,746,000. 89.07% of the stock is currently 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.