Robert W. Baird Increases Boston Scientific (NYSE:BSX) Price Target to $84.00

Boston Scientific (NYSE:BSX) had its target price upped by Robert W. Baird from $79.00 to $84.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

BSX has been the subject of several other reports. JPMorgan Chase & Co. boosted their target price on Boston Scientific from $60.00 to $72.00 and gave the stock an overweight rating in a research note on Thursday, February 1st. Raymond James boosted their price objective on Boston Scientific from $67.00 to $73.00 and gave the stock a strong-buy rating in a research report on Thursday, February 1st. TD Cowen raised their target price 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. BTIG Research reiterated a buy rating and set a $64.00 price target on shares of Boston Scientific in a report on Friday, December 29th. Finally, Needham & Company LLC raised their price objective on shares of Boston Scientific from $71.00 to $82.00 and gave the company a buy rating in a report on Wednesday. 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. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $75.09.

Boston Scientific Stock Performance

NYSE BSX opened at $73.17 on Thursday. The company has a market cap of $107.35 billion, a P/E ratio of 61.49, a P/E/G ratio of 2.52 and a beta of 0.78. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $74.39. 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 stock has a 50-day moving average of $67.82 and a two-hundred day moving average of $60.56.

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 the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the firm earned $0.45 EPS. As a group, analysts anticipate that Boston Scientific will post 2.32 EPS for the current year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the sale, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at $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 worth $3,418,529. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC purchased a new position in shares of Boston Scientific in the 4th quarter valued at about $28,000. Northwest Investment Counselors LLC acquired a new stake in shares of Boston Scientific during the 1st quarter valued at approximately $31,000. Sachetta LLC purchased a new stake in shares of Boston Scientific during the 4th quarter worth approximately $32,000. Frazier Financial Advisors LLC acquired a new stake in shares of Boston Scientific in the 4th quarter worth approximately $32,000. Finally, Jones Financial Companies Lllp increased its stake in Boston Scientific by 53.0% in the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 193 shares in the last quarter. 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.