Boston Scientific (NYSE:BSX) Price Target Raised to $91.00 at Raymond James

Boston Scientific (NYSE:BSX) had its price objective boosted by Raymond James from $85.00 to $91.00 in a report issued on Thursday morning, Benzinga reports. Raymond James currently has a strong-buy rating on the medical equipment provider’s stock.

Several other analysts have also recently weighed in on BSX. Needham & Company LLC lifted their price objective on Boston Scientific from $82.00 to $86.00 and gave the company a buy rating in a research report on Thursday. The Goldman Sachs Group started coverage on Boston Scientific in a research report on Thursday, May 30th. They set a buy rating and a $90.00 price objective on the stock. UBS Group boosted their price target on Boston Scientific from $74.00 to $90.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Citigroup boosted their price target on Boston Scientific from $87.00 to $90.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Finally, TD Cowen boosted their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a buy rating in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $84.76.

Boston Scientific Trading Up 0.4 %

NYSE BSX opened at $74.57 on Thursday. The company has a market capitalization of $109.40 billion, a price-to-earnings ratio of 62.40, a PEG ratio of 2.64 and a beta of 0.78. The stock’s 50-day simple moving average is $76.48 and its two-hundred day simple moving average is $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. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $79.43.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data 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. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. Research analysts forecast that Boston Scientific will post 2.35 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,620,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The disclosure for this sale can be found here. Insiders sold 62,441 shares of company stock worth $4,624,453 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BSX. Triad Wealth Partners LLC purchased a new stake in Boston Scientific in the second quarter worth $26,000. First Foundation Advisors purchased a new stake in Boston Scientific in the first quarter worth $25,000. Eagle Bay Advisors LLC increased its stake in Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the period. Lynx Investment Advisory purchased a new stake in Boston Scientific in the second quarter worth $30,000. Finally, RiverPark Advisors LLC purchased a new stake in Boston Scientific in the first quarter worth $30,000. 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.