Boston Scientific (NYSE:BSX) Given New $101.00 Price Target at Canaccord Genuity Group

Boston Scientific (NYSE:BSX) had its price target upped by equities researchers at Canaccord Genuity Group from $98.00 to $101.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 11.94% from the company’s current price.

Several other brokerages have also commented on BSX. Morgan Stanley lifted their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Bank of America raised their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus lifted their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Royal Bank of Canada upped their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, BTIG Research raised their target price on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.52.

Boston Scientific Stock Performance

NYSE:BSX opened at $90.23 on Monday. The firm’s fifty day simple moving average is $87.50 and its 200 day simple moving average is $81.44. The firm has a market capitalization of $132.98 billion, a price-to-earnings ratio of 74.55, a PEG ratio of 2.65 and a beta of 0.80. Boston Scientific has a twelve month low of $54.86 and a twelve month high of $91.93. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

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. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. As a group, equities research analysts expect that Boston Scientific will post 2.46 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 business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. The trade was a 16.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 328,157 shares of company stock valued at $27,957,676. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Hedge funds have recently added to or reduced their stakes in the business. Triad Wealth Partners LLC bought a new stake in Boston Scientific in the 2nd quarter valued at about $26,000. Values First Advisors Inc. acquired a new position in shares of Boston Scientific during the third quarter worth $28,000. Dunhill Financial LLC boosted its holdings in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. Andra AP fonden bought a new stake in Boston Scientific during the second quarter valued at $29,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Boston Scientific in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.