Analysts Set Boston Scientific Co. (NYSE:BSX) Target Price at $76.70

Shares of Boston Scientific Co. (NYSE:BSX) have earned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $77.27.

BSX has been the topic of a number of analyst reports. Evercore ISI upped their price objective on Boston Scientific from $72.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Barclays lifted their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Needham & Company LLC reissued a “buy” rating and set a $82.00 price target on shares of Boston Scientific in a research report on Tuesday, June 18th. Finally, Citigroup raised their price objective on Boston Scientific from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd.

Boston Scientific Trading Down 0.8 %

NYSE BSX opened at $76.41 on Thursday. The stock has a market capitalization of $112.10 billion, a price-to-earnings ratio of 64.21, a PEG ratio of 2.65 and a beta of 0.78. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $77.99. The stock’s 50 day moving average price is $74.84 and its two-hundred day moving average price is $67.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. As a group, analysts anticipate that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the sale, the director now directly owns 41,374 shares in the company, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. Insiders sold 65,276 shares of company stock worth $4,804,228 over the last three months. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new stake in Boston Scientific during the 4th quarter worth approximately $5,116,000. Glenmede Trust Co. NA lifted its holdings in shares of Boston Scientific by 12.1% during the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after purchasing an additional 1,123 shares during the period. Sierra Summit Advisors LLC bought a new stake in shares of Boston Scientific in the fourth quarter worth $8,038,000. TD Asset Management Inc grew its stake in shares of Boston Scientific by 10.7% in the fourth quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after purchasing an additional 155,565 shares during the last quarter. Finally, HealthInvest Partners AB acquired a new stake in Boston Scientific in the fourth quarter valued at $3,746,000. 89.07% of the stock is owned by institutional investors and hedge funds.

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.