Boston Scientific Co. (NYSE:BSX) Receives $76.70 Average Target Price from Analysts

Shares of Boston Scientific Co. (NYSE:BSX) have earned an average rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two 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. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $77.41.

Several research firms have weighed in on BSX. Robert W. Baird boosted their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Evercore ISI boosted their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $82.00 target price on shares of Boston Scientific in a research report on Tuesday, June 18th. UBS Group boosted their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Royal Bank of Canada boosted their target price on shares of Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the transaction, the executive vice president now directly owns 42,908 shares in the company, valued at approximately $3,316,788.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the transaction, the executive vice president now directly owns 42,908 shares in the company, valued at $3,316,788.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the transaction, the executive vice president now owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The disclosure for this sale can be found here. Insiders sold a total of 72,259 shares of company stock worth $5,344,014 in the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of large investors have recently modified their holdings of BSX. LPL Financial LLC grew its holdings in shares of Boston Scientific by 5.1% during the third quarter. LPL Financial LLC now owns 362,592 shares of the medical equipment provider’s stock worth $19,145,000 after buying an additional 17,463 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Boston Scientific by 171.2% during the third quarter. Synovus Financial Corp now owns 16,200 shares of the medical equipment provider’s stock worth $855,000 after buying an additional 10,226 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of Boston Scientific by 44.0% in the third quarter. Bamco Inc. NY now owns 112,300 shares of the medical equipment provider’s stock valued at $5,929,000 after purchasing an additional 34,300 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Boston Scientific by 106.5% in the third quarter. Tower Research Capital LLC TRC now owns 90,036 shares of the medical equipment provider’s stock valued at $4,754,000 after purchasing an additional 46,425 shares during the period. Finally, Fred Alger Management LLC grew its holdings in shares of Boston Scientific by 26.1% in the third quarter. Fred Alger Management LLC now owns 2,596,472 shares of the medical equipment provider’s stock valued at $137,094,000 after purchasing an additional 537,992 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.6 %

Shares of Boston Scientific stock opened at $76.11 on Thursday. The firm’s 50 day moving average price is $75.16 and its 200-day moving average price is $67.96. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $77.99. The company has a market cap of $111.66 billion, a P/E ratio of 63.96, a PEG ratio of 2.65 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.68 billion. On average, sell-side analysts predict that Boston Scientific will post 2.32 EPS for the current fiscal year.

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.