Citigroup Boosts Boston Scientific (NYSE:BSX) Price Target to $98.00

Boston Scientific (NYSE:BSX) had its target price lifted by Citigroup from $92.00 to $98.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

Other research analysts also recently issued research reports about the stock. TD Cowen raised their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their target price on shares of Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Canaccord Genuity Group raised their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Mizuho raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Price Performance

BSX stock opened at $84.73 on Thursday. Boston Scientific has a 52 week low of $49.15 and a 52 week high of $88.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $83.47 and a two-hundred day simple moving average of $77.80. The firm has a market capitalization of $124.31 billion, a P/E ratio of 71.20, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80.

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

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock valued at $26,714,298 in the last 90 days. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. CRA Financial Services LLC boosted its position in shares of Boston Scientific by 4.3% during the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after acquiring an additional 117 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 119 shares during the last quarter. CVA Family Office LLC lifted its position 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 valued at $147,000 after buying an additional 131 shares during the last quarter. Jacobsen Capital Management lifted its position in Boston Scientific by 4.9% in the third quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock valued at $236,000 after buying an additional 133 shares during the last quarter. Finally, S.A. Mason LLC lifted its position in Boston Scientific by 6.1% in the third quarter. S.A. Mason LLC now owns 2,335 shares of the medical equipment provider’s stock valued at $196,000 after buying an additional 135 shares during the last quarter. 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.