JPMorgan Chase & Co. Issues Positive Forecast for Boston Scientific (NYSE:BSX) Stock Price

Boston Scientific (NYSE:BSX) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $100.00 to $110.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 21.21% from the company’s previous close.

BSX has been the subject of a number of other reports. Citigroup lifted their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Canaccord Genuity Group lifted their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Morgan Stanley upped their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada raised their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.52.

Boston Scientific Price Performance

Shares of NYSE BSX traded up $0.64 on Monday, hitting $90.75. The company’s stock had a trading volume of 1,634,678 shares, compared to its average volume of 5,952,286. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a 50 day moving average of $87.98 and a 200-day moving average of $81.87. Boston Scientific has a 12-month low of $54.95 and a 12-month high of $91.93. The company has a market capitalization of $133.75 billion, a price-to-earnings ratio of 75.00, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share 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 company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, research analysts predict that Boston Scientific will post 2.46 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the transaction, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock worth $27,957,676 over the last ninety days. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after purchasing an additional 173,034 shares during the period. HWG Holdings LP acquired a new position in shares of Boston Scientific in the second quarter worth about $482,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Boston Scientific by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after acquiring an additional 30,636 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Boston Scientific by 153.5% during the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock valued at $16,541,000 after acquiring an additional 119,525 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Boston Scientific in the 3rd quarter valued at approximately $567,000. 89.07% of the stock is owned by institutional investors.

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.