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

Boston Scientific (NYSE:BSX) had its price objective raised by Mizuho from $80.00 to $85.00 in a research note published on Thursday, Benzinga reports. Mizuho currently has a buy rating on the medical equipment provider’s stock.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada increased their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the company an outperform rating in a research report on Monday, April 15th. BTIG Research reissued a buy rating and set a $64.00 target price on shares of Boston Scientific in a research note on Friday, December 29th. Evercore ISI increased their price target on Boston Scientific from $72.00 to $78.00 and gave the stock an outperform rating in a report on Thursday. StockNews.com downgraded Boston Scientific from a buy rating to a hold rating in a research note on Saturday, March 16th. Finally, Raymond James raised their target price on Boston Scientific from $67.00 to $73.00 and gave the stock a strong-buy rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of Moderate Buy and an average target price of $75.09.

Boston Scientific Trading Down 0.1 %

Shares of NYSE BSX opened at $73.17 on Thursday. The firm has a 50 day moving average price of $67.82 and a two-hundred day moving average price of $60.63. The stock 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 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.

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, beating 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 business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the business posted $0.45 earnings per share. As a group, equities analysts forecast that Boston Scientific will post 2.32 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction dated Monday, April 1st. The stock was 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 directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,979 shares of company stock worth $3,418,529. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently modified their holdings of BSX. FMR LLC increased its holdings in Boston Scientific by 6.8% during the 3rd quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after acquiring an additional 8,045,263 shares during the period. Vanguard Group Inc. increased its holdings in shares of Boston Scientific by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock worth $7,252,253,000 after purchasing an additional 1,681,454 shares during the period. Wellington Management Group LLP raised its position in shares of Boston Scientific by 5.9% in the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after buying an additional 2,336,348 shares in the last quarter. Primecap Management Co. CA boosted its stake in Boston Scientific by 1.5% during the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock valued at $2,191,326,000 after buying an additional 550,490 shares during the period. Finally, Morgan Stanley grew its position in Boston Scientific by 2.3% during the third quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock worth $1,119,378,000 after buying an additional 481,891 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

About Boston Scientific

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.