Boston Scientific (NYSE:BSX) Price Target Raised to $79.00

Boston Scientific (NYSE:BSX) had its target price boosted by Citigroup from $71.00 to $79.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the medical equipment provider’s stock.

Several other equities analysts have also recently issued reports on BSX. Raymond James lifted their price target on Boston Scientific from $67.00 to $73.00 and gave the company a strong-buy rating in a research report on Thursday, February 1st. StockNews.com lowered Boston Scientific from a buy rating to a hold rating in a research note on Saturday, March 16th. Argus boosted their target price on Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a report on Wednesday. Royal Bank of Canada increased their price target on Boston Scientific from $67.00 to $70.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Finally, Truist Financial increased their target price on Boston Scientific from $59.00 to $66.00 and gave the stock a buy rating in a report on Friday, December 22nd. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $68.14.

Boston Scientific Stock Up 1.2 %

Shares of NYSE:BSX opened at $68.56 on Wednesday. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $69.20. The stock has a market cap of $100.58 billion, a P/E ratio of 64.07, a P/E/G ratio of 2.39 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The firm has a fifty day moving average price of $66.43 and a 200 day moving average price of $58.81.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the firm posted $0.45 EPS. Sell-side analysts predict that Boston Scientific will post 2.25 EPS for the current year.

Insider Buying and Selling

In other news, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the transaction, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The disclosure for this sale can be found here. Insiders have sold a total of 77,811 shares of company stock valued at $5,017,070 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Institutional investors have recently made changes to their positions in the business. Bruce G. Allen Investments LLC purchased a new position in shares of Boston Scientific in the 4th quarter valued at $28,000. Frazier Financial Advisors LLC acquired a new position in Boston Scientific in the 4th quarter worth about $32,000. Sachetta LLC purchased a new position in Boston Scientific in the fourth quarter worth approximately $32,000. Jones Financial Companies Lllp boosted its position in shares of Boston Scientific by 53.0% during the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 193 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in Boston Scientific by 58.0% during the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 215 shares during the period. 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.