Boston Scientific (NYSE:BSX) Price Target Increased to $94.00 by Analysts at Raymond James

Boston Scientific (NYSE:BSX) had its price target increased by research analysts at Raymond James from $91.00 to $94.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “strong-buy” rating on the medical equipment provider’s stock. Raymond James’ price objective would indicate a potential upside of 15.49% from the company’s current price.

Other analysts have also issued reports about the company. Mizuho increased their price objective on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Barclays raised their price target on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Argus boosted their price target on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. BTIG Research raised their price objective 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. Finally, Needham & Company LLC boosted their target price on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Boston Scientific Trading Down 0.7 %

Shares of NYSE BSX opened at $81.39 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific has a one year low of $48.35 and a one year high of $82.47. The business has a 50-day moving average price of $77.30 and a two-hundred day moving average price of $73.37. The firm has a market capitalization of $119.41 billion, a PE ratio of 68.39, a PEG ratio of 2.71 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. As a group, analysts predict that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 20,949 shares of company stock valued at $1,627,877 over the last three months. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in BSX. Eagle Bay Advisors LLC boosted its stake in shares of Boston Scientific by 542.1% in the 1st 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. First Foundation Advisors acquired a new position in shares of Boston Scientific in the 1st quarter worth approximately $25,000. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific in the 2nd quarter worth approximately $26,000. Andra AP fonden bought a new stake in Boston Scientific during the 2nd quarter worth approximately $29,000. Finally, RiverPark Advisors LLC acquired a new stake in Boston Scientific during the 1st quarter valued at $30,000. 89.07% of the stock is owned by institutional investors.

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.