Boston Scientific (NYSE:BSX) Price Target Raised to $98.00

Boston Scientific (NYSE:BSX) had its price target upped by research analysts at Royal Bank of Canada from $95.00 to $98.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 13.49% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. BTIG Research upped their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. TD Cowen boosted their price objective on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday. Raymond James upped their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Barclays lifted their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $92.73.

Boston Scientific Trading Down 1.3 %

BSX traded down $1.10 during trading on Thursday, hitting $86.35. 2,226,216 shares of the company’s stock were exchanged, compared to its average volume of 6,003,222. 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 1 year low of $49.15 and a 1 year high of $88.79. 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 firm has a market cap of $126.68 billion, a P/E ratio of 72.56, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80.

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

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock worth $26,714,298 over the last 90 days. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BSX. Eagle Bay Advisors LLC raised its stake in Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. First Foundation Advisors bought a new position in shares of Boston Scientific during the 1st quarter worth about $25,000. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific during the second quarter valued at about $26,000. Values First Advisors Inc. bought a new stake in shares of Boston Scientific in the third quarter valued at about $28,000. Finally, Andra AP fonden acquired a new stake in Boston Scientific during the second quarter worth about $29,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.