Boston Scientific (NYSE:BSX) Price Target Raised to $100.00

Boston Scientific (NYSE:BSX) had its price target boosted by analysts at Morgan Stanley from $92.00 to $100.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. Morgan Stanley’s price target points to a potential upside of 18.02% from the stock’s current price.

Other analysts have also issued reports about the company. TD Cowen increased their target price on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 21st. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Stifel Nicolaus raised their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Evercore ISI raised their price objective on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada raised their price objective on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Stock Performance

BSX opened at $84.73 on Thursday. The firm has a market cap of $124.31 billion, a P/E ratio of 71.24, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. Boston Scientific has a 52-week low of $49.15 and a 52-week high of $88.79. 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 business’s fifty day moving average is $83.34 and its 200-day moving average is $77.62.

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

Insider Transactions at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders sold 316,253 shares of company stock worth $26,714,298 over the last ninety days. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Boston Scientific by 1.6% during the first 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 during the period. Capital World Investors grew its stake in Boston Scientific by 69.9% during the first 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 during the period. Legal & General Group Plc grew its stake 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 during the period. Ameriprise Financial Inc. grew its stake 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 during the period. Finally, Canada Pension Plan Investment Board grew its stake 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 during the period. 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.