Boston Scientific (NYSE:BSX) Price Target Increased to $85.00 by Analysts at JPMorgan Chase & Co.

Boston Scientific (NYSE:BSX) had its price objective boosted by JPMorgan Chase & Co. from $82.00 to $85.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC upped their price objective on Boston Scientific from $82.00 to $86.00 and gave the stock a buy rating in a report on Thursday. Wells Fargo & Company upped their price objective on Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a report on Thursday, April 25th. Mizuho upped their price objective on Boston Scientific from $85.00 to $90.00 and gave the stock a buy rating in a report on Wednesday, May 15th. The Goldman Sachs Group started coverage on Boston Scientific in a report on Thursday, May 30th. They set a buy rating and a $90.00 target price for the company. Finally, TD Cowen increased their target price on Boston Scientific from $77.00 to $86.00 and gave the company a buy rating in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $84.76.

Boston Scientific Price Performance

Boston Scientific stock opened at $74.59 on Thursday. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $79.43. The business has a 50-day simple moving average of $76.48 and a 200 day simple moving average of $70.20. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The stock has a market cap of $109.43 billion, a price-to-earnings ratio of 62.40, a PEG ratio of 2.64 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. On average, research analysts forecast that Boston Scientific will post 2.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Insiders sold 62,441 shares of company stock valued at $4,624,453 in the last 90 days. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BSX. State of Michigan Retirement System grew its stake in shares of Boston Scientific by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 402,608 shares of the medical equipment provider’s stock worth $31,005,000 after buying an additional 1,200 shares during the last quarter. Rational Advisors LLC grew its stake in shares of Boston Scientific by 31.4% in the 2nd quarter. Rational Advisors LLC now owns 37,700 shares of the medical equipment provider’s stock worth $2,903,000 after buying an additional 9,000 shares during the last quarter. Bailard Inc. grew its stake in shares of Boston Scientific by 10.4% in the 2nd quarter. Bailard Inc. now owns 171,118 shares of the medical equipment provider’s stock worth $13,178,000 after buying an additional 16,053 shares during the last quarter. Catalyst Financial Partners LLC grew its stake in shares of Boston Scientific by 11.7% in the 2nd quarter. Catalyst Financial Partners LLC now owns 7,035 shares of the medical equipment provider’s stock worth $542,000 after buying an additional 738 shares during the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in shares of Boston Scientific in the 2nd quarter worth approximately $2,188,000. 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.