Boston Scientific (NYSE:BSX) Price Target Increased to $98.00 by Analysts at Canaccord Genuity Group

Boston Scientific (NYSE:BSX) had its target price boosted by Canaccord Genuity Group from $88.00 to $98.00 in a research report released on Monday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical equipment provider’s stock.

Several other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Robert W. Baird boosted their price objective on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. BTIG Research boosted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup boosted their target price on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, 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 research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.24.

Boston Scientific Stock Down 0.0 %

Shares of NYSE BSX opened at $88.05 on Monday. Boston Scientific has a 1 year low of $49.15 and a 1 year high of $88.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The company has a market capitalization of $129.18 billion, a P/E ratio of 73.99, a P/E/G ratio of 2.87 and a beta of 0.80. The company has a 50 day simple moving average of $82.73 and a 200-day simple moving average of $77.37.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data 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. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts predict that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated 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 transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 316,253 shares of company stock valued at $26,714,298. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently bought and sold shares of the company. CRA Financial Services LLC boosted its holdings in Boston Scientific by 4.3% in the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 117 shares during the period. CVA Family Office LLC lifted its holdings in Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after acquiring an additional 131 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Boston Scientific by 0.6% in the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after acquiring an additional 139 shares during the period. ST Germain D J Co. Inc. grew its holdings in shares of Boston Scientific by 8.0% during 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 last quarter. Finally, Transcend Capital Advisors LLC raised its position in shares of Boston Scientific by 2.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 148 shares during the period. 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.