Boston Scientific (NYSE:BSX) Price Target Raised to $100.00

Boston Scientific (NYSE:BSX) had its price objective hoisted by Sanford C. Bernstein from $92.00 to $100.00 in a research report released on Thursday morning, Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the medical equipment provider’s stock.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. BTIG Research increased their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Canaccord Genuity Group increased their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Price Performance

Shares of NYSE BSX traded down $0.17 during mid-day trading on Thursday, reaching $84.93. The company’s stock had a trading volume of 1,829,340 shares, compared to its average volume of 6,024,712. The stock has a 50-day moving average of $83.19 and a two-hundred day moving average of $77.57. The stock has a market capitalization of $124.60 billion, a P/E 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.

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

Insider Buying and Selling

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

Institutional Trading of Boston Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. Park Avenue Securities LLC increased its holdings in shares of Boston Scientific by 12.8% in the 1st quarter. Park Avenue Securities LLC now owns 12,435 shares of the medical equipment provider’s stock valued at $852,000 after acquiring an additional 1,413 shares during the period. Brookstone Capital Management increased its holdings in shares of Boston Scientific by 35.0% in the 1st quarter. Brookstone Capital Management now owns 14,300 shares of the medical equipment provider’s stock valued at $979,000 after acquiring an additional 3,710 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Boston Scientific by 10.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 66,024 shares of the medical equipment provider’s stock valued at $4,522,000 after acquiring an additional 6,485 shares during the period. 180 Wealth Advisors LLC increased its holdings in shares of Boston Scientific by 36.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 5,621 shares of the medical equipment provider’s stock valued at $385,000 after acquiring an additional 1,504 shares during the period. Finally, Courier Capital LLC increased its holdings in shares of Boston Scientific by 22.5% in the 1st quarter. Courier Capital LLC now owns 11,399 shares of the medical equipment provider’s stock valued at $781,000 after acquiring an additional 2,096 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.