Boston Scientific (NYSE:BSX) PT Raised to $85.00

Boston Scientific (NYSE:BSX) had its price objective raised by Raymond James from $73.00 to $85.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the medical equipment provider’s stock. Raymond James’ price target suggests a potential upside of 16.23% from the company’s current price.

BSX has been the subject of several other reports. Needham & Company LLC increased their price objective on Boston Scientific from $71.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their price objective on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada increased their price objective on Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, Robert W. Baird raised their price target on Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.09.

Boston Scientific Stock Performance

BSX stock opened at $73.13 on Thursday. The firm has a market cap of $107.29 billion, a PE ratio of 61.45, a P/E/G ratio of 2.48 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $67.82 and a 200-day moving average of $60.51. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $74.39.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, sell-side analysts expect that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now owns 41,374 shares in the company, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,979 shares of company stock valued at $3,418,529. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bruce G. Allen Investments LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth about $28,000. Northwest Investment Counselors LLC purchased a new position in shares of Boston Scientific in the first quarter worth about $31,000. Sachetta LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth about $32,000. Frazier Financial Advisors LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth about $32,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Boston Scientific by 53.0% in 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. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About Boston Scientific

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.