Boston Scientific (NYSE:BSX) PT Raised to $82.00

Boston Scientific (NYSE:BSX) had its price objective boosted by Royal Bank of Canada from $78.00 to $82.00 in a research note published on Thursday morning, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Several other equities research analysts also recently issued reports on BSX. Citigroup boosted their price objective on shares of Boston Scientific from $71.00 to $79.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. StockNews.com cut shares of Boston Scientific from a buy rating to a hold rating in a report on Saturday, March 16th. Evercore ISI upped their price target on shares of Boston Scientific from $72.00 to $78.00 and gave the company an outperform rating in a report on Thursday. Oppenheimer upped their price target on shares of Boston Scientific from $58.00 to $68.00 and gave the company a market perform rating in a report on Thursday, February 1st. Finally, Argus upped their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the company a buy rating in a report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $74.27.

Boston Scientific Trading Down 0.0 %

Boston Scientific stock traded down $0.02 during trading on Thursday, reaching $73.24. The company had a trading volume of 351,068 shares, compared to its average volume of 6,485,329. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $74.39. The stock’s 50 day moving average price is $67.68 and its two-hundred day moving average price is $60.37. The firm has a market capitalization of $107.45 billion, a price-to-earnings ratio of 61.60, a PEG ratio of 2.48 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. As a group, equities analysts expect that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of the company’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 completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Bradley Sorenson sold 16,351 shares of the 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 completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,979 shares of company stock worth $3,418,529. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Large investors have recently made changes to their positions in the business. Bruce G. Allen Investments LLC bought a new position in shares of Boston Scientific during the 4th quarter valued at about $28,000. Northwest Investment Counselors LLC purchased a new stake in Boston Scientific during the first quarter valued at about $31,000. Sachetta LLC purchased a new stake in Boston Scientific during the fourth quarter valued at about $32,000. Frazier Financial Advisors LLC purchased a new stake in Boston Scientific during the fourth quarter valued at about $32,000. Finally, Jones Financial Companies Lllp lifted its stake in Boston Scientific by 53.0% during the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 193 shares in the last quarter. 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.