Brokerages Set Boston Scientific Co. (NYSE:BSX) PT at $97.26

Boston Scientific Co. (NYSE:BSX) has been given an average rating of “Moderate Buy” by the twenty-three ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $97.26.

BSX has been the subject of a number of research analyst reports. BTIG Research lifted their price target on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup increased their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group boosted their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th.

Insider Activity at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,989 shares of company stock worth $2,702,261 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several large investors have recently made changes to their positions in BSX. Values First Advisors Inc. bought a new stake in Boston Scientific in the 3rd quarter valued at $28,000. Dunhill Financial LLC raised its stake in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the period. Global Wealth Strategies & Associates boosted its position in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the period. West Oak Capital LLC bought a new position in shares of Boston Scientific during the fourth quarter worth about $29,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Boston Scientific during the third quarter worth about $30,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $96.87 on Monday. The stock has a market capitalization of $142.77 billion, a price-to-earnings ratio of 80.06, a P/E/G ratio of 2.67 and a beta of 0.80. The firm’s 50-day moving average price is $90.36 and its two-hundred day moving average price is $84.15. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific has a 1-year low of $59.61 and a 1-year high of $97.36.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period in the prior year, the company earned $0.50 EPS. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, equities analysts predict that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

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.