Boston Scientific (NYSE:BSX) Given New $98.00 Price Target at Royal Bank of Canada

Boston Scientific (NYSE:BSX) had its price objective upped by Royal Bank of Canada from $95.00 to $98.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Several other brokerages have also recently issued reports on BSX. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Stifel Nicolaus boosted their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Thursday. Citigroup boosted their price objective on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday. Finally, Canaccord Genuity Group upped their price target on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Stock Down 0.4 %

Boston Scientific stock opened at $84.73 on Thursday. 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 $83.47 and its two-hundred day simple moving average is $77.80. The company has a market cap of $124.31 billion, a PE ratio of 71.20, a PEG ratio of 2.87 and a beta of 0.80. Boston Scientific has a fifty-two week low of $49.15 and a fifty-two week high of $88.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. Equities analysts anticipate that Boston Scientific will post 2.4 EPS for the current year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’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 directly owns 37,468 shares in the company, valued at $3,061,135.60. This 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 at this link. In related news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 316,253 shares of company stock worth $26,714,298 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Boston Scientific by 225.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock valued at $7,237,000 after acquiring an additional 73,219 shares in the last quarter. BDF Gestion acquired a new stake in shares of Boston Scientific in the second quarter valued at $3,570,000. LRI Investments LLC acquired a new stake in Boston Scientific in the first quarter valued at $139,000. Cetera Advisor Networks LLC raised its stake in Boston Scientific by 11.8% in the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after buying an additional 21,252 shares in the last quarter. Finally, Brookstone Capital Management raised its stake in Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after buying an additional 55,645 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.