Boston Scientific (NYSE:BSX) PT Raised to $90.00

Boston Scientific (NYSE:BSX) had its price target raised by Evercore ISI from $82.00 to $90.00 in a report released on Tuesday, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Several other research firms also recently weighed in on BSX. Truist Financial lifted their target price on Boston Scientific from $86.00 to $90.00 and gave the company a buy rating in a research report on Tuesday, July 16th. Robert W. Baird lifted their target price on Boston Scientific from $90.00 to $91.00 and gave the company an outperform rating in a research report on Thursday, July 25th. Barclays boosted their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an overweight rating in a research report on Thursday, August 22nd. Morgan Stanley boosted their price objective on Boston Scientific from $79.00 to $92.00 and gave the company an overweight rating in a research report on Monday, July 15th. Finally, StockNews.com downgraded Boston Scientific from a buy rating to a hold rating in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of Moderate Buy and a consensus price target of $87.10.

Boston Scientific Stock Performance

Shares of BSX opened at $83.84 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific has a one year low of $48.35 and a one year high of $84.89. The firm has a market capitalization of $123.00 billion, a P/E ratio of 70.45, a PEG ratio of 2.78 and a beta of 0.79. The business has a fifty day moving average of $79.88 and a 200 day moving average of $75.68.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. As a group, sell-side analysts anticipate that Boston Scientific will post 2.4 EPS for the current year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 20,949 shares of company stock valued at $1,673,685. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Triad Wealth Partners LLC purchased a new stake in Boston Scientific during the second quarter valued at approximately $26,000. First Foundation Advisors purchased a new stake in Boston Scientific during the first quarter valued at approximately $25,000. Eagle Bay Advisors LLC raised its position in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares during the period. Andra AP fonden purchased a new stake in Boston Scientific during the second quarter valued at approximately $29,000. Finally, Lynx Investment Advisory purchased a new stake in Boston Scientific during the second quarter valued at approximately $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.