Boston Scientific (NYSE:BSX) PT Raised to $85.00 at JPMorgan Chase & Co.

Boston Scientific (NYSE:BSX) had its target price lifted by JPMorgan Chase & Co. from $82.00 to $85.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the medical equipment provider’s stock.

A number of other brokerages have also issued reports on BSX. BTIG Research increased their target price on shares of Boston Scientific from $80.00 to $84.00 and gave the company a buy rating in a research report on Monday, July 15th. TD Cowen upped their price target on shares of Boston Scientific from $77.00 to $86.00 and gave the company a buy rating in a report on Tuesday, July 16th. StockNews.com raised shares of Boston Scientific from a hold rating to a buy rating in a report on Wednesday, July 24th. Morgan Stanley upped their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the company an overweight rating in a report on Monday, July 15th. Finally, Citigroup upped their price target on shares of Boston Scientific from $87.00 to $90.00 and gave the company a buy rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $84.76.

Boston Scientific Stock Performance

Shares of BSX opened at $74.92 on Thursday. The firm has a 50-day moving average price of $76.49 and a 200 day moving average price of $70.47. The firm has a market capitalization of $109.92 billion, a PE ratio of 62.96, a P/E/G ratio of 2.49 and a beta of 0.78. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $79.43.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, sell-side analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the sale, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,620,617. The disclosure for this sale can be found here. Insiders sold 62,441 shares of company stock valued at $4,624,453 over the last three months. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CVA Family Office LLC raised its position in Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after acquiring an additional 131 shares in the last quarter. ST Germain D J Co. Inc. raised its position in shares of Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after purchasing an additional 143 shares during the period. Pinnacle Associates Ltd. raised its position in shares of Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after purchasing an additional 148 shares during the period. Transcend Capital Advisors LLC raised its position in shares of Boston Scientific by 2.2% in the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after purchasing an additional 148 shares during the period. Finally, KCM Investment Advisors LLC raised its position in shares of Boston Scientific by 1.7% in the first quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock valued at $632,000 after purchasing an additional 150 shares during the period. 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.