Raymond James Boosts Boston Scientific (NYSE:BSX) Price Target to $85.00

Boston Scientific (NYSE:BSX) had its price objective raised by Raymond James from $73.00 to $85.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a strong-buy rating on the medical equipment provider’s stock.

A number of other analysts have also recently commented on BSX. Mizuho upped their price objective on Boston Scientific from $80.00 to $85.00 and gave the company a buy rating in a research report on Thursday. Argus boosted their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. StockNews.com lowered shares of Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Citigroup boosted their target price 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. Finally, Oppenheimer increased their price target 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $75.09.

Boston Scientific Stock Performance

Shares of BSX opened at $73.17 on Thursday. Boston Scientific has a one year low of $48.35 and a one year high of $74.39. The company has a 50-day simple moving average of $67.82 and a two-hundred day simple moving average of $60.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The firm has a market capitalization of $107.35 billion, a PE ratio of 61.49, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating 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 company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the company earned $0.45 EPS. On average, analysts anticipate that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were 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 of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock valued at $3,418,529 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake in Boston Scientific by 5.6% during the third quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock worth $27,353,000 after acquiring an additional 27,620 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Boston Scientific in the 4th quarter valued at approximately $5,116,000. Glenmede Trust Co. NA grew its stake in shares of Boston Scientific by 12.1% in the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after acquiring an additional 1,123 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Boston Scientific by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock valued at $98,683,000 after acquiring an additional 38,249 shares in the last quarter. Finally, HealthInvest Partners AB purchased a new position in Boston Scientific in the fourth quarter valued at $3,746,000. Institutional investors and hedge funds 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.