Boston Scientific (NYSE:BSX) Price Target Raised to $78.00 at Evercore ISI

Boston Scientific (NYSE:BSX) had its price target upped by Evercore ISI from $72.00 to $78.00 in a research report report published on Thursday, Benzinga reports. Evercore ISI currently has an outperform rating on the medical equipment provider’s stock.

A number of other research analysts have also weighed in on BSX. Mizuho raised shares of Boston Scientific from a neutral rating to a buy rating and raised their target price for the company from $65.00 to $80.00 in a report on Thursday, February 1st. Wells Fargo & Company raised their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a report on Thursday. Royal Bank of Canada raised their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the company an outperform rating in a report on Monday, April 15th. Raymond James raised their target price on shares of Boston Scientific from $67.00 to $73.00 and gave the company a strong-buy rating in a report on Thursday, February 1st. Finally, 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. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of Moderate Buy and a consensus price target of $74.27.

Boston Scientific Price Performance

BSX traded down $0.02 during trading on Thursday, reaching $73.24. 351,068 shares of the company traded hands, compared to its average volume of 6,485,329. 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 has a 12-month low of $48.35 and a 12-month high of $74.39. The firm has a fifty day simple moving average of $67.68 and a 200 day simple moving average of $60.37. The company has a market cap of $107.45 billion, a P/E ratio of 61.60, a PEG ratio of 2.48 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data 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 business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the firm posted $0.45 EPS. On average, equities analysts forecast that Boston Scientific will post 2.32 EPS for the current year.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following 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 is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock worth $3,418,529 over the last three months. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new stake in shares of Boston Scientific during the first quarter worth about $31,000. Bruce G. Allen Investments LLC purchased a new stake in Boston Scientific in the fourth quarter valued at approximately $28,000. Frazier Financial Advisors LLC purchased a new stake in Boston Scientific in the fourth quarter valued at approximately $32,000. Sachetta LLC purchased a new stake in Boston Scientific in the fourth quarter valued at approximately $32,000. Finally, Jones Financial Companies Lllp boosted its position in Boston Scientific by 53.0% in 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 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.