Boston Scientific (NYSE:BSX) PT Raised to $78.00 at Evercore ISI

Boston Scientific (NYSE:BSX) had its price target upped by Evercore ISI from $72.00 to $78.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. raised their price target on Boston Scientific from $60.00 to $72.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. Raymond James upped their price target on shares of Boston Scientific from $67.00 to $73.00 and gave the company a strong-buy rating in a report on Thursday, February 1st. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a report on Monday, April 15th. StockNews.com lowered shares of Boston Scientific from a buy rating to a hold rating in a research note on Saturday, March 16th. Finally, Needham & Company LLC lifted their price target on Boston Scientific from $71.00 to $82.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Three investment 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $75.09.

Boston Scientific Trading Down 0.1 %

NYSE BSX opened at $73.17 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $74.39. The company has a market capitalization of $107.35 billion, a PE ratio of 61.49, a P/E/G ratio of 2.51 and a beta of 0.78. The stock has a 50-day simple moving average of $67.82 and a 200 day simple moving average of $60.63.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. The business 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 quarter last year, the firm earned $0.45 EPS. Research analysts forecast that Boston Scientific will post 2.32 EPS for the current year.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock valued at $3,418,529 over the last quarter. 0.50% of the stock is owned by company insiders.

Institutional Trading of Boston Scientific

A number of large investors have recently bought and sold shares of BSX. Bruce G. Allen Investments LLC bought a new position in shares of Boston Scientific during the 4th quarter worth about $28,000. Northwest Investment Counselors LLC acquired a new stake in Boston Scientific in the first quarter valued at approximately $31,000. Sachetta LLC bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $32,000. Frazier Financial Advisors LLC bought a new position in shares of Boston Scientific in the 4th quarter worth $32,000. Finally, Jones Financial Companies Lllp grew its position in Boston Scientific by 53.0% in 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. 89.07% of the stock is currently 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.