Deutsche Bank Aktiengesellschaft Increases Boston Scientific (NYSE:BSX) Price Target to $78.00

Boston Scientific (NYSE:BSX) had its price objective upped by Deutsche Bank Aktiengesellschaft from $73.00 to $78.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a hold rating on the medical equipment provider’s stock.

Several other brokerages have also weighed in on BSX. Canaccord Genuity Group increased their price objective on shares of Boston Scientific from $83.00 to $88.00 and gave the company a buy rating in a report on Thursday. Citigroup increased their price objective on shares of Boston Scientific from $87.00 to $90.00 and gave the company a buy rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. increased their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an overweight rating in a report on Thursday. Morgan Stanley increased their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an overweight rating in a report on Monday, July 15th. Finally, BTIG Research increased their target price on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a buy rating in a report on Monday, July 15th. Two investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $84.76.

Boston Scientific Price Performance

BSX opened at $74.92 on Thursday. Boston Scientific has a one year low of $48.35 and a one year high of $79.43. 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’s 50 day simple moving average is $76.49 and its 200-day simple moving average is $70.47. The stock has a market capitalization of $109.92 billion, a P/E ratio of 62.96, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data 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. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the business posted $0.53 earnings per share. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP John Bradley Sorenson sold 17,587 shares of Boston Scientific 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 transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the transaction, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,441 shares of company stock valued at $4,624,453. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CVA Family Office LLC grew its position in shares of Boston Scientific by 7.4% in the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after acquiring an additional 131 shares during the period. ST Germain D J Co. Inc. lifted its stake in shares of Boston Scientific by 8.0% during the 2nd quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after buying an additional 143 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Boston Scientific by 2.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after buying an additional 148 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in shares of Boston Scientific by 2.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 148 shares during the last quarter. Finally, KCM Investment Advisors LLC lifted its stake in shares of Boston Scientific by 1.7% during the 1st quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock worth $632,000 after buying an additional 150 shares during the last quarter. 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.