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

Boston Scientific (NYSE:BSX) had its target price lifted by equities research analysts at Barclays from $70.00 to $78.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. Barclays‘s price objective would suggest a potential upside of 6.38% from the company’s current price.

BSX has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday. Robert W. Baird increased their price target on Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday. Raymond James increased their price target on Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Thursday. Citigroup lifted their target price on Boston Scientific from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company lifted their target price on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average price target of $75.09.

Boston Scientific Trading Up 0.1 %

Shares of BSX stock traded up $0.06 on Friday, reaching $73.32. The company had a trading volume of 1,337,740 shares, compared to its average volume of 6,492,735. 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 stock has a market cap of $107.57 billion, a PE ratio of 61.61, a PEG ratio of 2.48 and a beta of 0.78. The company has a 50-day moving average of $67.68 and a 200-day moving average of $60.37. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $74.39.

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

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of the business’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 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 document filed with the SEC, which is accessible through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction that occurred on 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 directly 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 SEC, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $66.35, for a total value of $463,322.05. Following the completion of the transaction, the executive vice president now directly owns 53,788 shares in the company, valued at $3,568,833.80. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock worth $3,418,529 over the last 90 days. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new stake in shares of Boston Scientific in the 4th quarter valued at about $28,000. Northwest Investment Counselors LLC purchased a new stake in shares of Boston Scientific in the 1st quarter valued at about $31,000. Sachetta LLC bought a new stake in Boston Scientific in the 4th quarter worth approximately $32,000. Frazier Financial Advisors LLC bought a new stake in Boston Scientific in the 4th quarter worth approximately $32,000. Finally, Jones Financial Companies Lllp lifted 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 worth $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.

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.