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

Boston Scientific (NYSE:BSX) had its target price increased by Mizuho from $80.00 to $85.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

BSX has been the subject of a number of other research reports. StockNews.com lowered shares of Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Argus upped their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. Royal Bank of Canada upped their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Finally, TD Cowen increased 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. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $74.27.

Boston Scientific Price Performance

Shares of NYSE BSX traded down $0.02 during midday 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. The stock has a 50-day moving average of $67.68 and a 200-day moving average of $60.37. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The company has a market capitalization of $107.45 billion, a price-to-earnings ratio of 61.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $74.39.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data 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 firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, research analysts anticipate that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock valued at $3,418,529 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Boston Scientific in the 4th quarter worth approximately $930,626,000. FMR LLC lifted its stake in Boston Scientific by 6.8% during the 3rd quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after acquiring an additional 8,045,263 shares during the period. Putnam Investments LLC lifted its stake in Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after acquiring an additional 6,859,280 shares during the period. Capital World Investors lifted its stake in Boston Scientific by 236.1% during the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after acquiring an additional 6,617,360 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Boston Scientific by 391.6% during the 3rd quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock valued at $172,752,000 after purchasing an additional 2,606,253 shares in the last quarter. 89.07% of the stock is currently owned by 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.