Needham & Company LLC Boosts Boston Scientific (NYSE:BSX) Price Target to $82.00

Boston Scientific (NYSE:BSX) had its price objective increased by Needham & Company LLC from $71.00 to $82.00 in a report issued on Wednesday, 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. Oppenheimer upped their price objective on Boston Scientific from $58.00 to $68.00 and gave the company a market perform rating in a report on Thursday, February 1st. Mizuho upgraded Boston Scientific from a neutral rating to a buy rating and increased their price target for the stock from $65.00 to $80.00 in a report on Thursday, February 1st. TD Cowen increased their price target on Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a report on Thursday, March 7th. Evercore ISI increased their price objective on Boston Scientific from $68.00 to $72.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Finally, Argus increased their price objective on Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $75.09.

Boston Scientific Trading Down 0.2 %

Shares of BSX opened at $73.13 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $74.39. The firm has a market capitalization of $107.29 billion, a PE ratio of 61.45, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. The stock’s fifty day simple moving average is $67.82 and its 200-day simple moving average is $60.51.

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

Insider Activity

In related news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction that occurred on Monday, April 1st. The stock was 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 of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the transaction, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated 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 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. Insiders sold a total of 50,979 shares of company stock valued at $3,418,529 over the last three months. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

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