Boston Scientific (NYSE:BSX) Price Target Raised to $78.00 at Royal Bank of Canada

Boston Scientific (NYSE:BSX) had its price target boosted by Royal Bank of Canada from $70.00 to $78.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Several other analysts have also recently commented on the stock. BTIG Research restated a buy rating and set a $64.00 price objective on shares of Boston Scientific in a research note on Friday, December 29th. Mizuho upgraded shares of Boston Scientific from a neutral rating to a buy rating and lifted their price objective for the company from $65.00 to $80.00 in a research note on Thursday, February 1st. Raymond James lifted their price objective on shares of Boston Scientific from $67.00 to $73.00 and gave the company a strong-buy rating in a research note on Thursday, February 1st. TD Cowen lifted their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the company an outperform rating in a research note on Thursday, March 7th. Finally, Citigroup boosted their target price on shares of Boston Scientific from $71.00 to $79.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Two 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. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $68.50.

Boston Scientific Stock Down 0.2 %

NYSE:BSX opened at $67.96 on Monday. The company has a market cap of $99.70 billion, a PE ratio of 63.51, a P/E/G ratio of 2.36 and a beta of 0.78. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $69.21. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $67.17 and its two-hundred day moving average is $59.68.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the business posted $0.45 EPS. Analysts anticipate that Boston Scientific will post 2.25 EPS for the current 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 on 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 sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock valued at $3,418,529 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds have recently modified their holdings of the company. FMR LLC grew its holdings in shares of Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after purchasing an additional 8,045,263 shares during the period. Vanguard Group Inc. grew its holdings in shares of Boston Scientific by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock valued at $7,252,253,000 after purchasing an additional 1,681,454 shares during the period. Wellington Management Group LLP grew its holdings in shares of Boston Scientific by 5.9% in the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after purchasing an additional 2,336,348 shares during the period. Primecap Management Co. CA grew its holdings in shares of Boston Scientific by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock valued at $2,191,326,000 after purchasing an additional 550,490 shares during the period. Finally, Geode Capital Management LLC lifted its position in Boston Scientific by 1.9% in the first quarter. Geode Capital Management LLC now owns 25,329,129 shares of the medical equipment provider’s stock valued at $1,263,857,000 after buying an additional 473,888 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.