BTIG Research Boosts Boston Scientific (NYSE:BSX) Price Target to $93.00

Boston Scientific (NYSE:BSX) had its price target upped by BTIG Research from $84.00 to $93.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

Several other equities analysts have also issued reports on the company. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Robert W. Baird upped their price target on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Citigroup upped their price target on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada raised their target price on Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.55.

Boston Scientific Price Performance

Boston Scientific stock opened at $87.02 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The firm has a market cap of $127.66 billion, a P/E ratio of 73.12, a P/E/G ratio of 2.87 and a beta of 0.80. The business’s fifty day moving average is $82.03 and its two-hundred day moving average is $76.89. Boston Scientific has a 52 week low of $49.15 and a 52 week high of $88.09.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts forecast 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 firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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 shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. This represents 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 over the last 90 days. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently made changes to their positions in the stock. Triad Wealth Partners LLC acquired a new stake in Boston Scientific in the 2nd quarter valued at about $26,000. First Foundation Advisors bought a new position in shares of Boston Scientific in the first quarter worth $25,000. Eagle Bay Advisors LLC raised its stake in Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Andra AP fonden bought a new stake in Boston Scientific during the second quarter worth about $29,000. Finally, Lynx Investment Advisory acquired a new stake in Boston Scientific during the second quarter worth about $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Company Profile

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.