Boston Scientific (NYSE:BSX) Given New $122.00 Price Target at Citigroup

Boston Scientific (NYSE:BSX) had its price objective hoisted by Citigroup from $107.00 to $122.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price objective would suggest a potential upside of 16.25% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Mizuho boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Canaccord Genuity Group upped their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Bank of America increased their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $101.91.

Boston Scientific Trading Up 1.4 %

Shares of BSX opened at $104.95 on Thursday. Boston Scientific has a fifty-two week low of $64.08 and a fifty-two week high of $107.17. The stock has a market capitalization of $154.68 billion, a PE ratio of 86.73, a P/E/G ratio of 2.68 and a beta of 0.80. The company’s fifty day moving average is $94.30 and its 200 day moving average is $86.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Sell-side analysts expect that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the transaction, the executive vice president now owns 29,308 shares in the company, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the sale, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,302 shares of company stock valued at $4,464,725. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently bought and sold shares of the company. TFC Financial Management Inc. lifted its stake in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific in the third quarter worth $28,000. Dunhill Financial LLC raised its holdings in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares during the last quarter. Global Wealth Strategies & Associates lifted its position in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the period. Finally, West Oak Capital LLC purchased a new stake in Boston Scientific in the fourth quarter valued at $29,000. Hedge funds and other 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.