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

Boston Scientific (NYSE:BSX) had its price target boosted by research analysts at Barclays from $70.00 to $78.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Barclays‘s price objective points to a potential upside of 6.60% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Mizuho upped their price target on shares of Boston Scientific from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday. BTIG Research restated a “buy” rating and set a $64.00 price target on shares of Boston Scientific in a research note on Friday, December 29th. Wells Fargo & Company upped their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, UBS Group increased their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have given 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 Friday. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $74.39. The firm has a 50 day moving average of $67.82 and a 200 day moving average of $60.56. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $107.35 billion, a price-to-earnings ratio of 61.49, a PEG ratio of 2.52 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating 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 company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. As a group, sell-side analysts anticipate that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the 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 transaction, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the 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 transaction, 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 have sold a total of 50,979 shares of company stock valued at $3,418,529 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently modified their holdings of BSX. Norges Bank purchased a new position in shares of Boston Scientific in the fourth quarter worth about $930,626,000. FMR LLC lifted its stake in shares of Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after buying an additional 8,045,263 shares in the last quarter. Putnam Investments LLC lifted its stake in shares of Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after buying an additional 6,859,280 shares in the last quarter. Capital World Investors lifted its stake in shares of Boston Scientific by 236.1% in the fourth quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after buying an additional 6,617,360 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Boston Scientific by 391.6% in the third quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after buying an additional 2,606,253 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.