Boston Scientific (NYSE:BSX) Price Target Increased to $78.00 by Analysts at Evercore ISI

Boston Scientific (NYSE:BSX) had its target price upped by research analysts at Evercore ISI from $72.00 to $78.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Evercore ISI’s target price would indicate a potential upside of 6.14% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Citigroup raised their price objective on shares of Boston Scientific from $71.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Mizuho upgraded shares of Boston Scientific from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $80.00 in a research report on Thursday, February 1st. Argus lifted their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company lifted their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, BTIG Research reiterated a “buy” rating and set a $64.00 target price on shares of Boston Scientific in a research report on Friday, December 29th. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $70.68.

Boston Scientific Stock Performance

Shares of BSX traded up $0.58 during trading hours on Thursday, hitting $73.49. The company’s stock had a trading volume of 972,724 shares, compared to its average volume of 6,462,900. The company has a market cap of $107.82 billion, a price-to-earnings ratio of 68.68, a PEG ratio of 2.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The business has a 50 day simple moving average of $67.53 and a two-hundred day simple moving average of $60.28. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $74.39.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the business earned $0.45 earnings per share. On average, equities analysts expect that Boston Scientific will post 2.25 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock valued at $3,418,529 in the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of BSX. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific during the 4th quarter valued at about $28,000. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific in the first quarter worth approximately $31,000. Sachetta LLC bought a new stake in shares of Boston Scientific in the fourth quarter worth approximately $32,000. Frazier Financial Advisors LLC bought a new stake in shares of Boston Scientific in the fourth quarter worth approximately $32,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Boston Scientific by 53.0% in the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 193 shares during the period. 89.07% of the stock is currently owned by institutional investors.

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.