Boston Scientific (NYSE:BSX) Price Target Increased to $85.00 by Analysts at Raymond James

Boston Scientific (NYSE:BSX) had its price objective raised by Raymond James from $73.00 to $85.00 in a research note released on Thursday morning, Benzinga reports. They currently have a strong-buy rating on the medical equipment provider’s stock.

BSX has been the topic of several other reports. Wells Fargo & Company raised their price objective on Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research report on Thursday. Needham & Company LLC upped their price target on Boston Scientific from $71.00 to $82.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Oppenheimer boosted their target price on shares of Boston Scientific from $58.00 to $68.00 and gave the stock a market perform rating in a research report on Thursday, February 1st. Citigroup raised their price target on shares of Boston Scientific from $71.00 to $79.00 and gave the company a buy rating in a report on Wednesday, April 3rd. Finally, BTIG Research reiterated a buy rating and issued a $64.00 price objective 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 assigned a strong buy rating to the company. According to MarketBeat.com, Boston Scientific has an average rating of Moderate Buy and a consensus target price of $75.09.

Boston Scientific Stock Down 0.1 %

Shares of NYSE BSX opened at $73.17 on Thursday. The firm’s 50 day moving average price is $67.82 and its 200 day moving average price is $60.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The firm has a market cap of $107.35 billion, a P/E ratio of 61.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $74.39.

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

Insider Activity

In related news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors have recently bought and sold shares of BSX. Bruce G. Allen Investments LLC acquired a new stake in shares of Boston Scientific in the 4th quarter worth approximately $28,000. Northwest Investment Counselors LLC acquired a new position in shares of Boston Scientific during the first quarter valued at approximately $31,000. Sachetta LLC bought a new stake in Boston Scientific during the fourth quarter worth approximately $32,000. Frazier Financial Advisors LLC bought a new position in Boston Scientific during the 4th quarter valued at $32,000. Finally, Jones Financial Companies Lllp increased its position in shares of Boston Scientific by 53.0% during the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 193 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.