Boston Scientific (NYSE:BSX) Sets New 12-Month High at $82.90

Boston Scientific Co. (NYSE:BSX)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $82.90 and last traded at $82.86, with a volume of 117770 shares trading hands. The stock had previously closed at $82.65.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Morgan Stanley lifted their price objective on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Needham & Company LLC raised their target price on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Finally, Robert W. Baird increased their price target on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Two equities research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.38.

Boston Scientific Stock Performance

The business’s fifty day moving average is $77.52 and its two-hundred day moving average is $73.70. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $121.90 billion, a PE ratio of 69.45, a price-to-earnings-growth ratio of 2.71 and a beta of 0.79.

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. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the company earned $0.53 EPS. Boston Scientific’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 20,949 shares of company stock worth $1,627,877 in the last ninety days. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Several hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $930,626,000. Putnam Investments LLC boosted its holdings in shares of Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after purchasing an additional 6,859,280 shares during the last quarter. Capital World Investors increased its holdings in shares of Boston Scientific by 236.1% in the fourth quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after purchasing an additional 6,617,360 shares during the last quarter. Marshall Wace LLP boosted its stake in Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after buying an additional 3,608,158 shares during the last quarter. Finally, Capital Research Global Investors purchased a new position in shares of Boston Scientific in the first quarter valued at $182,897,000. 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.