Boston Scientific (NYSE:BSX) Price Target Raised to $107.00

Boston Scientific (NYSE:BSX) had its price target increased by Citigroup from $98.00 to $107.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

BSX has been the subject of a number of other reports. TD Cowen increased their price target on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Canaccord Genuity Group boosted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Stifel Nicolaus increased their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Bank of America boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Four investment 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.43.

Boston Scientific Stock Down 0.3 %

Shares of BSX stock opened at $90.12 on Wednesday. The company’s fifty day moving average price is $87.87 and its 200-day moving average price is $81.67. Boston Scientific has a one year low of $54.95 and a one year high of $91.93. The company has a market capitalization of $132.81 billion, a price-to-earnings ratio of 74.73, a PEG ratio of 2.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping 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 return on equity of 17.23% and a net margin of 11.26%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. Sell-side analysts expect that Boston Scientific will post 2.46 EPS for the current fiscal year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 16.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 328,157 shares of company stock valued at $27,957,676. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Triad Wealth Partners LLC purchased a new position in Boston Scientific in the second quarter valued at about $26,000. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific during the 3rd quarter valued at $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 worth $28,000 after acquiring an additional 152 shares in the last quarter. Andra AP fonden purchased a new position in shares of Boston Scientific in the 2nd quarter valued at approximately $29,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Boston Scientific in the 3rd quarter worth approximately $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.