Boston Scientific (NYSE:BSX) Price Target Increased to $84.00 by Analysts at BTIG Research

Boston Scientific (NYSE:BSX) had its price objective boosted by BTIG Research from $80.00 to $84.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. BTIG Research’s price target would indicate a potential upside of 7.50% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Robert W. Baird lifted their price objective on Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, Barclays lifted their price objective on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.29.

Boston Scientific Stock Performance

Boston Scientific stock opened at $78.14 on Monday. The stock has a 50-day simple moving average of $76.01 and a 200 day simple moving average of $69.43. The company has a quick ratio of 1.14, a current ratio of 1.66 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 $78.98. The stock has a market capitalization of $114.64 billion, a price-to-earnings ratio of 65.66, a P/E/G ratio of 2.67 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released 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. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. On average, research analysts anticipate 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 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 owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the sale, the director now owns 41,374 shares in the company, valued at approximately $3,032,300.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction on Wednesday, May 1st. The shares were 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 owns 50,638 shares in the company, valued at approximately $3,620,617. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,259 shares of company stock valued at $5,344,014. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

A number of large investors have recently added to or reduced their stakes in BSX. Louisiana State Employees Retirement System bought a new position in Boston Scientific during the 4th quarter worth $5,116,000. Sierra Summit Advisors LLC bought a new position in Boston Scientific during the 4th quarter worth $8,038,000. TD Asset Management Inc increased its position in Boston Scientific by 10.7% during the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after buying an additional 155,565 shares during the period. HealthInvest Partners AB bought a new position in Boston Scientific during the 4th quarter worth $3,746,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in Boston Scientific by 225.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after buying an additional 73,219 shares during the period. 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.