Mizuho Raises Boston Scientific (NYSE:BSX) Price Target to $110.00

Boston Scientific (NYSE:BSX) had its price target boosted by Mizuho from $100.00 to $110.00 in a research note published on Thursday, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

BSX has been the subject of a number of other research reports. Morgan Stanley raised their price objective on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Stifel Nicolaus raised their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Canaccord Genuity Group upped their target price on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI raised their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Bank of America lifted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Trading Down 1.6 %

BSX traded down $1.35 during trading on Thursday, hitting $83.75. 657,858 shares of the stock were exchanged, compared to its average volume of 6,019,053. The firm has a market cap of $122.87 billion, a price-to-earnings ratio of 71.52, a P/E/G ratio of 2.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. Boston Scientific has a 1 year low of $49.15 and a 1 year high of $88.79. The firm has a 50 day simple moving average of $83.19 and a 200 day simple moving average of $77.57.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. As a group, equities analysts expect that Boston Scientific will post 2.4 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock valued at $26,714,298 in the last 90 days. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

Several institutional investors have recently made changes to their positions in the company. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $26,000. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific during the third quarter worth about $28,000. First Foundation Advisors acquired a new position in Boston Scientific during the 1st quarter worth approximately $25,000. Eagle Bay Advisors LLC lifted its position in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Finally, Andra AP fonden purchased a new position in Boston Scientific in the second quarter valued at $29,000. 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.