Boston Scientific (NYSE:BSX) PT Raised to $100.00 at Morgan Stanley

Boston Scientific (NYSE:BSX) had its target price hoisted by Morgan Stanley from $92.00 to $100.00 in a report issued on Thursday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the medical equipment provider’s stock.

BSX has been the topic of several other research reports. Stifel Nicolaus lifted their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price target on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Canaccord Genuity Group lifted their price target on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. increased their price objective on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Stock Performance

BSX traded down $0.17 on Thursday, hitting $84.93. 1,829,340 shares of the company traded hands, compared to its average volume of 6,024,712. The company has a 50 day moving average of $83.19 and a 200-day moving average of $77.57. Boston Scientific has a 12-month low of $49.15 and a 12-month high of $88.79. The stock has a market capitalization of $124.60 billion, a PE ratio of 71.52, a PEG ratio of 2.87 and a beta of 0.80. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during 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 company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. Sell-side analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 316,253 shares of company stock valued at $26,714,298. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MONECO Advisors LLC increased its stake in Boston Scientific by 7.6% during the third quarter. MONECO Advisors LLC now owns 3,861 shares of the medical equipment provider’s stock worth $324,000 after acquiring an additional 272 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Boston Scientific by 1.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 377,826 shares of the medical equipment provider’s stock worth $31,662,000 after purchasing an additional 4,959 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in Boston Scientific by 11.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 13,718 shares of the medical equipment provider’s stock worth $1,150,000 after purchasing an additional 1,445 shares in the last quarter. Cavalier Investments LLC raised its holdings in Boston Scientific by 6.7% in the third quarter. Cavalier Investments LLC now owns 71,841 shares of the medical equipment provider’s stock valued at $6,020,000 after buying an additional 4,485 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in Boston Scientific by 1.7% during the third quarter. State of Alaska Department of Revenue now owns 178,166 shares of the medical equipment provider’s stock valued at $14,929,000 after buying an additional 2,955 shares in the last quarter. 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.