Boston Scientific (NYSE:BSX) Price Target Raised to $93.00

Boston Scientific (NYSE:BSX) had its price objective hoisted by BTIG Research from $84.00 to $93.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft increased their target price on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Morgan Stanley increased their target price on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. TD Cowen increased their target price on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Raymond James increased their target price on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Evercore ISI increased their target price on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.55.

Boston Scientific Trading Down 0.7 %

BSX opened at $86.43 on Monday. Boston Scientific has a one year low of $49.15 and a one year high of $88.09. The company has a market cap of $126.80 billion, a P/E ratio of 72.63, a PEG 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. The business’s 50-day simple moving average is $82.25 and its 200-day simple moving average is $76.95.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.02 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts expect that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. 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 is available through this link. In other news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. 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 is available through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock worth $26,714,298 over the last quarter. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. Virtu Financial LLC acquired a new position in Boston Scientific in the fourth quarter valued at $659,000. EP Wealth Advisors LLC boosted its holdings in Boston Scientific by 46.1% in the fourth quarter. EP Wealth Advisors LLC now owns 12,055 shares of the medical equipment provider’s stock valued at $697,000 after acquiring an additional 3,804 shares during the last quarter. SageView Advisory Group LLC acquired a new position in Boston Scientific in the fourth quarter valued at $588,000. ICA Group Wealth Management LLC acquired a new position in Boston Scientific in the fourth quarter valued at $88,000. Finally, HighPoint Advisor Group LLC acquired a new position in Boston Scientific in the fourth quarter valued at $469,000. 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.