Boston Scientific’s (BSX) Outperform Rating Reiterated at Royal Bank of Canada

Boston Scientific (NYSE:BSX)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $85.00 price objective on the medical equipment provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 12.02% from the company’s previous close.

A number of other brokerages have also issued reports on BSX. Raymond James lifted their price target on Boston Scientific from $73.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 25th. BTIG Research lifted their price objective on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Robert W. Baird lifted 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. Evercore ISI lifted their target price on Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Finally, Morgan Stanley lifted their target price on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $84.24.

Boston Scientific Stock Performance

BSX stock traded down $1.88 during trading on Thursday, hitting $75.88. 3,087,226 shares of the company traded hands, compared to its average volume of 6,227,446. The stock’s 50-day simple moving average is $76.49 and its 200 day simple moving average is $70.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The company has a market cap of $111.32 billion, a PE ratio of 63.76, a P/E/G ratio of 2.70 and a beta of 0.78. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $79.43.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS 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 analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. On average, equities analysts expect that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the company’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 transaction 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 document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Charles J. Dockendorff sold 3,946 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of the company’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 owns 50,638 shares in the company, valued at approximately $3,620,617. The disclosure for this sale can be found here. Insiders sold a total of 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 Investors Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently modified their holdings of BSX. Norges Bank acquired a new stake in Boston Scientific during the 4th quarter valued at $930,626,000. Putnam Investments LLC grew its holdings in Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after buying an additional 6,859,280 shares during the last quarter. Capital World Investors grew its holdings in Boston Scientific by 236.1% during the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after buying an additional 6,617,360 shares during the last quarter. Capital Research Global Investors acquired a new stake in Boston Scientific during the 1st quarter valued at $182,897,000. Finally, Vanguard Group Inc. grew its holdings in Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after buying an additional 1,988,082 shares during the last quarter. Institutional investors and hedge funds 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.