Boston Scientific (NYSE:BSX) PT Raised to $92.00

Boston Scientific (NYSE:BSX) had its price target hoisted by investment analysts at Morgan Stanley from $79.00 to $92.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. Morgan Stanley’s price target points to a potential upside of 17.74% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Boston Scientific in a research report on Tuesday, June 18th. Raymond James upped their price objective on shares of Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 25th. Robert W. Baird raised their target price on shares of 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. upped their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, Argus lifted their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.29.

Boston Scientific Stock Up 0.2 %

BSX opened at $78.14 on Monday. The business’s fifty day simple moving average is $76.01 and its 200 day simple moving average is $69.43. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $78.98. The firm has a market cap of $114.64 billion, a P/E ratio of 65.66, a PEG ratio of 2.67 and a beta of 0.78. 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 (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. As a group, equities research analysts anticipate that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the transaction, the executive vice president now owns 45,628 shares in the company, valued at $3,437,157.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,620,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the executive vice president now owns 45,628 shares in the company, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. In the last three months, insiders sold 72,259 shares of company stock valued at $5,344,014. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after purchasing an additional 1,988,082 shares during the last quarter. Primecap Management Co. CA lifted its stake in Boston Scientific by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock valued at $2,191,326,000 after buying an additional 550,490 shares during the last quarter. Norges Bank acquired a new position in shares of Boston Scientific during the fourth quarter valued at $930,626,000. Capital World Investors grew its position in shares of Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after acquiring an additional 6,588,256 shares during the last quarter. Finally, Putnam Investments LLC increased its holdings in shares of 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 acquiring an additional 6,859,280 shares during the period. Institutional investors own 89.07% of the company’s stock.

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.