Evercore ISI Raises Boston Scientific (NYSE:BSX) Price Target to $78.00

Boston Scientific (NYSE:BSX) had its target price upped by Evercore ISI from $72.00 to $78.00 in a research note released on Thursday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the medical equipment provider’s stock.

BSX has been the subject of a number of other reports. Citigroup raised their price target on shares of Boston Scientific from $71.00 to $79.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. TD Cowen lifted their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the company an outperform rating in a report on Thursday, March 7th. Wells Fargo & Company raised their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research report on Thursday. Royal Bank of Canada boosted their price objective on Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a report on Monday, April 15th. Finally, Raymond James raised their target price on Boston Scientific from $67.00 to $73.00 and gave the company a strong-buy rating in a report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $75.09.

Boston Scientific Trading Down 0.1 %

NYSE BSX opened at $73.17 on Thursday. The firm has a market capitalization of $107.35 billion, a PE ratio of 61.49, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. The business’s 50-day moving average price is $67.82 and its two-hundred day moving average price is $60.56. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $74.39.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the firm earned $0.45 earnings per share. On average, analysts expect that Boston Scientific will post 2.32 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the sale, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock valued at $3,418,529 over the last three months. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BSX. Norges Bank bought a new position in shares of Boston Scientific in the fourth quarter valued at approximately $930,626,000. FMR LLC boosted its holdings in Boston Scientific by 6.8% in the 3rd quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after purchasing an additional 8,045,263 shares during the period. Putnam Investments LLC boosted its holdings in Boston Scientific by 110.5% in the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after purchasing an additional 6,859,280 shares during the period. Capital World Investors grew its position in shares of Boston Scientific by 236.1% during the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after purchasing an additional 6,617,360 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Boston Scientific by 391.6% in the third quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after purchasing an additional 2,606,253 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.