Evercore ISI Boosts Boston Scientific (NYSE:BSX) Price Target to $81.00

Boston Scientific (NYSE:BSX) had its target price hoisted by Evercore ISI from $78.00 to $81.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Robert W. Baird lifted their price target on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $63.00 to $73.00 and gave the stock a hold rating in a research note on Thursday, April 25th. Barclays lifted their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an overweight rating in a research note on Friday, April 26th. Finally, Argus boosted their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the company a buy rating in a research report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific has an average rating of Moderate Buy and a consensus target price of $77.41.

Boston Scientific Stock Performance

Boston Scientific stock opened at $76.55 on Tuesday. The company’s 50-day moving average price is $75.01 and its 200-day moving average price is $67.81. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $77.99. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The company has a market cap of $112.30 billion, a PE ratio of 64.33, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. On average, equities research analysts forecast that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’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 completion of the transaction, the executive vice president now owns 45,628 shares in the company, valued at approximately $3,437,157.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at approximately $3,032,300.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’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 in the company, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,259 shares of company stock worth $5,344,014. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System acquired a new position in Boston Scientific during the 4th quarter valued at approximately $5,116,000. Glenmede Trust Co. NA increased its stake in Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after purchasing an additional 1,123 shares in the last quarter. Sierra Summit Advisors LLC acquired a new position in Boston Scientific during the 4th quarter valued at approximately $8,038,000. TD Asset Management Inc increased its stake in Boston Scientific by 10.7% during the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock valued at $93,417,000 after purchasing an additional 155,565 shares in the last quarter. Finally, HealthInvest Partners AB acquired a new position in Boston Scientific during the 4th quarter valued at approximately $3,746,000. 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.