Boston Scientific (NYSE:BSX) PT Raised to $81.00

Boston Scientific (NYSE:BSX) had its price objective lifted by analysts at Evercore ISI from $78.00 to $81.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Evercore ISI’s target price indicates a potential upside of 6.49% from the company’s previous close.

A number of other research firms also recently weighed in on BSX. Mizuho upped their target price on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Barclays upped their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday. Citigroup raised their target price on shares of Boston Scientific from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, Argus boosted their price target on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $77.41.

Boston Scientific Trading Down 0.5 %

BSX stock traded down $0.35 on Tuesday, reaching $76.06. The company’s stock had a trading volume of 470,799 shares, compared to its average volume of 6,252,040. The firm has a market cap of $111.59 billion, a PE ratio of 63.92, a PEG ratio of 2.65 and a beta of 0.78. The business has a fifty day simple moving average of $74.84 and a two-hundred day simple moving average of $67.67. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $77.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. As a group, research analysts forecast that Boston Scientific will post 2.32 EPS for the current year.

Insider Activity

In other news, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total value of $286,874.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the transaction, the executive vice president now directly owns 45,628 shares in the company, valued at approximately $3,437,157.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The disclosure for this sale can be found here. Insiders sold a total of 65,276 shares of company stock valued at $4,804,228 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in shares of Boston Scientific by 14.6% in the third quarter. AQR Capital Management LLC now owns 537,152 shares of the medical equipment provider’s stock worth $28,362,000 after buying an additional 68,478 shares in the last quarter. Truist Financial Corp lifted its stake in Boston Scientific by 23.0% in the 3rd quarter. Truist Financial Corp now owns 263,479 shares of the medical equipment provider’s stock worth $13,912,000 after purchasing an additional 49,323 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after purchasing an additional 1,123 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of Boston Scientific during the third quarter valued at about $201,000. Finally, Lido Advisors LLC increased its holdings in shares of Boston Scientific by 38.2% in the third quarter. Lido Advisors LLC now owns 13,266 shares of the medical equipment provider’s stock worth $700,000 after purchasing an additional 3,669 shares during the last quarter. 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.