Analysts Set Boston Scientific Co. (NYSE:BSX) Price Target at $95.96

Boston Scientific Co. (NYSE:BSX) has earned an average rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the company, MarketBeat reports. Three 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 company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $95.96.

A number of equities analysts have weighed in on BSX shares. TD Cowen upped their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Mizuho raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company upped their target price on Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Sanford C. Bernstein raised their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Raymond James upped their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares in the company, valued at approximately $2,913,967.28. This represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 328,157 shares of company stock worth $27,957,676. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after purchasing an additional 173,034 shares during the period. HWG Holdings LP bought a new stake in Boston Scientific in the second quarter worth about $482,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock valued at $289,675,000 after acquiring an additional 30,636 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Boston Scientific by 153.5% during the 3rd quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock valued at $16,541,000 after purchasing an additional 119,525 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Boston Scientific in the 3rd quarter worth approximately $567,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.3 %

NYSE:BSX opened at $88.95 on Thursday. The business’s 50-day moving average is $88.31 and its two-hundred day moving average is $82.30. The firm has a market capitalization of $131.10 billion, a PE ratio of 73.51, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. Boston Scientific has a 12 month low of $54.96 and a 12 month high of $91.93. 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 announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for 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 company’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. Research analysts predict that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

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.