Royal Bank of Canada Increases Boston Scientific (NYSE:BSX) Price Target to $98.00

Boston Scientific (NYSE:BSX) had its target price increased by research analysts at Royal Bank of Canada from $95.00 to $98.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 15.66% from the stock’s previous close.

A number of other research analysts also recently issued reports on BSX. Mizuho upped their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. TD Cowen increased their target price on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 21st. Robert W. Baird increased their target price on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company increased their target price on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Trading Down 0.4 %

Shares of NYSE:BSX opened at $84.73 on Thursday. The company has a market cap of $124.31 billion, a P/E ratio of 71.24, a PEG ratio of 2.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific has a 1 year low of $49.15 and a 1 year high of $88.79. The stock’s fifty day moving average price is $83.34 and its 200-day moving average price is $77.62.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. Sell-side analysts expect that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors have recently added to or reduced their stakes in BSX. Park Avenue Securities LLC grew its holdings in Boston Scientific by 12.8% during the 1st quarter. Park Avenue Securities LLC now owns 12,435 shares of the medical equipment provider’s stock valued at $852,000 after buying an additional 1,413 shares in the last quarter. Brookstone Capital Management grew its holdings in Boston Scientific by 35.0% during the 1st quarter. Brookstone Capital Management now owns 14,300 shares of the medical equipment provider’s stock valued at $979,000 after buying an additional 3,710 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Boston Scientific by 10.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 66,024 shares of the medical equipment provider’s stock valued at $4,522,000 after buying an additional 6,485 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in Boston Scientific by 36.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 5,621 shares of the medical equipment provider’s stock valued at $385,000 after buying an additional 1,504 shares in the last quarter. Finally, Courier Capital LLC grew its holdings in Boston Scientific by 22.5% during the 1st quarter. Courier Capital LLC now owns 11,399 shares of the medical equipment provider’s stock valued at $781,000 after buying an additional 2,096 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.