Boston Scientific (NYSE:BSX) Given New $100.00 Price Target at TD Cowen

Boston Scientific (NYSE:BSX) had its target price upped by equities researchers at TD Cowen from $86.00 to $100.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. TD Cowen’s price target would suggest a potential upside of 13.61% from the company’s current price.

A number of other equities analysts have also recently weighed in on BSX. Robert W. Baird upped their price target on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Morgan Stanley boosted their price objective on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Royal Bank of Canada boosted their price objective on shares of Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.68.

Boston Scientific Stock Performance

Shares of BSX opened at $88.02 on Monday. 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 stock has a market capitalization of $129.13 billion, a P/E ratio of 73.97, a P/E/G ratio of 2.87 and a beta of 0.80. The company’s fifty day moving average is $82.97 and its two-hundred day moving average is $77.50. Boston Scientific has a 1 year low of $49.15 and a 1 year high of $88.79.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the company posted $0.53 EPS. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts predict that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’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 of the company’s stock, valued at approximately $13,639,695. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 currently owned by insiders.

Institutional Trading of Boston Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after purchasing an additional 1,988,082 shares in the last quarter. Capital World Investors increased its position in Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares in the last quarter. Legal & General Group Plc grew its position in Boston Scientific by 2.7% in the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after acquiring an additional 360,793 shares in the last quarter. Ameriprise Financial Inc. grew its position in Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Boston Scientific by 15.0% in the first quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock valued at $540,879,000 after acquiring an additional 1,027,543 shares in 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.