Boston Scientific (NYSE:BSX) Hits New 52-Week High at $79.08

Shares of Boston Scientific Co. (NYSE:BSX) reached a new 52-week high during trading on Tuesday . The stock traded as high as $79.08 and last traded at $78.82, with a volume of 1049141 shares changing hands. The stock had previously closed at $78.27.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BSX. BTIG Research lifted their price objective on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Argus lifted their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. TD Cowen increased their price objective on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Robert W. Baird raised their price objective on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.76.

Boston Scientific Stock Down 4.5 %

The business’s fifty day simple moving average is $76.48 and its two-hundred day simple moving average is $70.20. The company has a market cap of $108.95 billion, a PE ratio of 62.40, a PEG ratio of 2.70 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, analysts predict that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the transaction, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,259 shares of company stock valued at $5,344,014. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BSX. Optas LLC purchased a new position in Boston Scientific during the second quarter worth approximately $222,000. Bank Pictet & Cie Europe AG raised its holdings in shares of Boston Scientific by 42.0% during the 2nd quarter. Bank Pictet & Cie Europe AG now owns 79,339 shares of the medical equipment provider’s stock worth $6,110,000 after acquiring an additional 23,486 shares during the period. Banque Pictet & Cie SA raised its holdings in shares of Boston Scientific by 3.9% during the 2nd quarter. Banque Pictet & Cie SA now owns 372,048 shares of the medical equipment provider’s stock worth $28,651,000 after acquiring an additional 14,063 shares during the period. Pictet North America Advisors SA boosted its position in shares of Boston Scientific by 3.5% during the 2nd quarter. Pictet North America Advisors SA now owns 75,258 shares of the medical equipment provider’s stock valued at $5,796,000 after acquiring an additional 2,531 shares during the last quarter. Finally, LRI Investments LLC grew its holdings in shares of Boston Scientific by 3,802.0% in the second quarter. LRI Investments LLC now owns 5,892 shares of the medical equipment provider’s stock valued at $454,000 after purchasing an additional 5,741 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.