Boston Scientific (NYSE:BSX) Price Target Raised to $86.00

Boston Scientific (NYSE:BSX) had its price target hoisted by stock analysts at Needham & Company LLC from $82.00 to $86.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Needham & Company LLC’s price target suggests a potential upside of 10.60% from the stock’s current price.

Other research analysts also recently issued reports about the company. Raymond James upped their price target on Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a report on Thursday, April 25th. Barclays upped their price objective on Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Robert W. Baird upped their price objective on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group initiated coverage on Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price objective for the company. Finally, Evercore ISI upped their price objective on Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $82.81.

Boston Scientific Trading Down 1.1 %

Boston Scientific stock opened at $77.76 on Thursday. The company has a market capitalization of $114.08 billion, a price-to-earnings ratio of 65.34, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $79.43. The business’s fifty day simple moving average is $76.49 and its two-hundred day simple moving average is $70.18.

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

Insider Activity

In other news, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the sale, the executive vice president now directly owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,620,617. The disclosure for this sale can be found here. Insiders sold 72,259 shares of company stock valued at $5,344,014 in the last ninety days. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BSX. Eagle Bay Advisors LLC increased its holdings in shares of Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares during the period. First Foundation Advisors purchased a new position in shares of Boston Scientific during the 1st quarter valued at about $25,000. Triad Wealth Partners LLC purchased a new position in shares of Boston Scientific during the 2nd quarter valued at about $26,000. RiverPark Advisors LLC purchased a new position in shares of Boston Scientific in the 1st quarter valued at about $30,000. Finally, Lynx Investment Advisory purchased a new position in shares of Boston Scientific in the 2nd quarter valued at about $30,000. 89.07% of the stock is currently owned by hedge funds and other 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.