Boston Scientific (NYSE:BSX) PT Raised to $100.00

Boston Scientific (NYSE:BSX) had its price objective upped by Stifel Nicolaus from $85.00 to $100.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Stifel Nicolaus’ target price points to a potential upside of 14.17% from the stock’s current price.

BSX has been the subject of a number of other reports. Raymond James boosted their target price on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Evercore ISI upped their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada upped their price objective on Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their price objective on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. upped their price objective on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.10.

Boston Scientific Trading Up 1.4 %

Shares of Boston Scientific stock traded up $1.17 during trading on Friday, reaching $87.59. 1,432,700 shares of the company were exchanged, compared to its average volume of 5,932,982. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. Boston Scientific has a twelve month low of $49.15 and a twelve month high of $88.09. The business has a 50-day moving average price of $82.25 and a 200-day moving average price of $76.95. The firm has a market capitalization of $128.50 billion, a price-to-earnings ratio of 73.61, a P/E/G ratio of 2.87 and a beta of 0.80.

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

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock worth $26,714,298 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors and hedge funds have recently made changes to their positions in BSX. NBC Securities Inc. grew its position in shares of Boston Scientific by 4.4% in the first quarter. NBC Securities Inc. now owns 7,367 shares of the medical equipment provider’s stock valued at $514,000 after purchasing an additional 311 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in Boston Scientific by 16.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,985 shares of the medical equipment provider’s stock worth $273,000 after buying an additional 576 shares in the last quarter. Banque Cantonale Vaudoise grew its position in Boston Scientific by 3.5% during the first quarter. Banque Cantonale Vaudoise now owns 26,565 shares of the medical equipment provider’s stock worth $1,819,000 after buying an additional 886 shares in the last quarter. Park Avenue Securities LLC grew its position in Boston Scientific by 12.8% during the first quarter. Park Avenue Securities LLC now owns 12,435 shares of the medical equipment provider’s stock worth $852,000 after buying an additional 1,413 shares in the last quarter. Finally, First Affirmative Financial Network boosted its holdings in shares of Boston Scientific by 4.3% in the 1st quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock valued at $276,000 after purchasing an additional 166 shares in 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.