Boston Scientific (NYSE:BSX) Price Target Raised to $100.00

Boston Scientific (NYSE:BSX) had its price target increased by Bank of America from $90.00 to $100.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

Several other brokerages also recently issued reports on BSX. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Stifel Nicolaus boosted their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. Barclays increased their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. TD Cowen lifted their target price on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Morgan Stanley upped their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $85.11 on Tuesday. The stock has a market cap of $124.86 billion, a price-to-earnings ratio of 71.52, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The stock has a 50 day moving average price of $83.19 and a 200-day moving average price of $77.57. Boston Scientific has a one year low of $49.15 and a one year high of $88.79.

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

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in Boston Scientific by 1.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 377,826 shares of the medical equipment provider’s stock worth $31,662,000 after acquiring an additional 4,959 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Boston Scientific by 11.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 13,718 shares of the medical equipment provider’s stock valued at $1,150,000 after purchasing an additional 1,445 shares during the period. Cavalier Investments LLC raised its stake in shares of Boston Scientific by 6.7% in the third quarter. Cavalier Investments LLC now owns 71,841 shares of the medical equipment provider’s stock worth $6,020,000 after purchasing an additional 4,485 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Boston Scientific by 1.7% during the third quarter. State of Alaska Department of Revenue now owns 178,166 shares of the medical equipment provider’s stock worth $14,929,000 after purchasing an additional 2,955 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Boston Scientific by 123.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 158,538 shares of the medical equipment provider’s stock valued at $13,285,000 after buying an additional 87,470 shares during the last quarter. 89.07% of the stock is currently 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.