Stifel Nicolaus Issues Positive Forecast for Boston Scientific (NYSE:BSX) Stock Price

Boston Scientific (NYSE:BSX) had its price target lifted by Stifel Nicolaus from $100.00 to $115.00 in a research report sent to investors on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical equipment provider’s stock.

Several other equities analysts have also commented on BSX. Wells Fargo & Company upped their target price on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday. Raymond James increased their target price on Boston Scientific from $101.00 to $119.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Sanford C. Bernstein increased their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, BTIG Research boosted their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $104.26.

Boston Scientific Stock Performance

BSX stock opened at $105.01 on Thursday. The firm has a market cap of $154.76 billion, a P/E ratio of 86.78, a P/E/G ratio of 2.68 and a beta of 0.80. The stock’s 50 day simple moving average is $94.30 and its 200 day simple moving average is $86.84. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific has a 12-month low of $64.39 and a 12-month high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. As a group, equities research analysts predict that Boston Scientific will post 2.46 EPS for the current year.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,302 shares of company stock valued at $4,464,725 over the last ninety days. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after purchasing an additional 718,515 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Boston Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after purchasing an additional 480,729 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Boston Scientific by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,475,031 shares of the medical equipment provider’s stock worth $756,990,000 after buying an additional 456,654 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Boston Scientific by 21.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock worth $518,138,000 after purchasing an additional 1,028,977 shares during the period. 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.