Boston Scientific (NYSE:BSX) Price Target Increased to $82.00 by Analysts at Royal Bank of Canada

Boston Scientific (NYSE:BSX) had its price target lifted by Royal Bank of Canada from $78.00 to $82.00 in a report published on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical equipment provider’s stock.

A number of other equities analysts have also recently issued reports on BSX. Needham & Company LLC boosted their price objective on Boston Scientific from $71.00 to $82.00 and gave the company a buy rating in a report on Wednesday, April 24th. Robert W. Baird upped their price target on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a report on Thursday. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a report on Thursday. Evercore ISI upped their target price on Boston Scientific from $72.00 to $78.00 and gave the stock an outperform rating in a report on Thursday. Finally, BTIG Research reiterated a buy rating and issued a $64.00 price target on shares of Boston Scientific in a report on Friday, December 29th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boston Scientific presently has a consensus rating of Moderate Buy and a consensus price target of $75.09.

Boston Scientific Trading Down 0.1 %

BSX stock opened at $73.17 on Thursday. The firm’s fifty day simple moving average is $67.82 and its two-hundred day simple moving average is $60.63. The stock has a market capitalization of $107.35 billion, a price-to-earnings ratio of 61.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period in the prior year, the company posted $0.45 EPS. As a group, analysts anticipate that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the sale, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,979 shares of company stock worth $3,418,529. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new position in shares of Boston Scientific during the 1st quarter valued at approximately $31,000. YHB Investment Advisors Inc. acquired a new stake in Boston Scientific during the first quarter valued at $32,000. Bruce G. Allen Investments LLC purchased a new position in Boston Scientific in the fourth quarter valued at $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Boston Scientific in the fourth quarter worth about $32,000. Finally, Sachetta LLC purchased a new stake in shares of Boston Scientific during the 4th quarter worth about $32,000. 89.07% of the stock is owned by institutional investors and hedge funds.

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.