Boston Scientific (NYSE:BSX) Price Target Raised to $84.00 at Robert W. Baird

Boston Scientific (NYSE:BSX) had its price objective upped by equities researchers at Robert W. Baird from $79.00 to $84.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Robert W. Baird’s price objective points to a potential upside of 15.21% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Oppenheimer raised their target price 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. Evercore ISI lifted their price target on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Citigroup lifted their price target on shares of Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Raymond James lifted their price target on shares of Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.95.

Boston Scientific Stock Performance

NYSE:BSX opened at $72.91 on Thursday. 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 firm has a 50-day moving average price of $67.53 and a two-hundred day moving average price of $60.28. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39. The company has a market capitalization of $106.97 billion, a P/E ratio of 68.14, a price-to-earnings-growth ratio of 2.42 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share 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 firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the firm posted $0.45 EPS. As a group, research analysts expect that Boston Scientific will post 2.25 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 business’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 transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $66.35, for a total transaction of $463,322.05. Following the completion of the transaction, the executive vice president now owns 53,788 shares in the company, valued at $3,568,833.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following 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 three months, insiders have sold 50,979 shares of company stock valued at $3,418,529. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors have recently modified their holdings of BSX. Bruce G. Allen Investments LLC bought a new position in Boston Scientific in the 4th quarter valued at about $28,000. Northwest Investment Counselors LLC bought a new position in Boston Scientific in the 1st quarter valued at about $31,000. Sachetta LLC bought a new position in Boston Scientific in the 4th quarter valued at about $32,000. Frazier Financial Advisors LLC bought a new position in Boston Scientific in the 4th quarter valued at about $32,000. Finally, Jones Financial Companies Lllp grew its position in Boston Scientific by 53.0% in the 4th 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.

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.