Citigroup Raises Boston Scientific (NYSE:BSX) Price Target to $85.00

Boston Scientific (NYSE:BSX) had its price objective hoisted by Citigroup from $79.00 to $85.00 in a report issued on Thursday, Benzinga reports. Citigroup currently has a buy rating on the medical equipment provider’s stock.

A number of other research firms also recently weighed in on BSX. StockNews.com downgraded shares of Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Robert W. Baird lifted their price target on shares of Boston Scientific from $79.00 to $84.00 and gave the company an outperform rating in a research report on Thursday. Evercore ISI lifted their price target on shares of Boston Scientific from $72.00 to $78.00 and gave the company an outperform rating in a research report on Thursday. Royal Bank of Canada lifted their price target on shares of Boston Scientific from $78.00 to $82.00 and gave the company an outperform rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $75.09.

Boston Scientific Trading Down 0.1 %

Boston Scientific stock opened at $73.17 on Thursday. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $74.39. 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 stock has a market capitalization of $107.35 billion, a P/E ratio of 61.49, a PEG 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 issued its quarterly earnings data 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 return on equity of 16.63% and a net margin of 12.06%. 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 previous year, the company posted $0.45 earnings per share. Analysts expect that Boston Scientific will post 2.32 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was 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 directly owns 271,542 shares in the company, valued at approximately $17,883,756.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is currently owned by insiders.

Institutional Trading of Boston Scientific

Institutional investors have recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in Boston Scientific during the first quarter valued at $31,000. YHB Investment Advisors Inc. bought a new stake in Boston Scientific during the first quarter valued at $32,000. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific during the fourth quarter valued at $28,000. Frazier Financial Advisors LLC bought a new stake in Boston Scientific during the fourth quarter valued at $32,000. Finally, Sachetta LLC bought a new stake in Boston Scientific during the fourth quarter valued at $32,000. Institutional investors 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.