Boston Scientific (NYSE:BSX) PT Raised to $90.00 at Citigroup

Boston Scientific (NYSE:BSX) had its target price boosted by investment analysts at Citigroup from $87.00 to $90.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s target price points to a potential upside of 17.07% from the company’s previous close.

A number of other research firms also recently commented on BSX. UBS Group increased their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Wells Fargo & Company increased their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $82.00 price objective on shares of Boston Scientific in a research note on Tuesday, June 18th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.29.

Boston Scientific Trading Down 0.3 %

NYSE BSX opened at $76.88 on Wednesday. The company’s fifty day simple moving average is $75.71 and its 200-day simple moving average is $68.80. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $77.99. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The stock has a market cap of $112.79 billion, a P/E ratio of 64.61, a PEG ratio of 2.62 and a beta of 0.78.

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 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 business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Equities research analysts predict that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were 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 directly owns 20,197 shares in the company, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Insiders have sold a total of 72,259 shares of company stock valued at $5,344,014 in the last quarter. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds have recently made changes to their positions in the business. BDF Gestion acquired a new position in shares of Boston Scientific in the 2nd quarter worth approximately $3,570,000. WBH Advisory Inc. acquired a new position in shares of Boston Scientific in the 2nd quarter worth approximately $221,000. Salem Investment Counselors Inc. grew its stake in shares of Boston Scientific by 0.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 211,879 shares of the medical equipment provider’s stock worth $16,317,000 after purchasing an additional 661 shares during the last quarter. Csenge Advisory Group grew its stake in shares of Boston Scientific by 7.7% in the 2nd quarter. Csenge Advisory Group now owns 3,872 shares of the medical equipment provider’s stock worth $298,000 after purchasing an additional 278 shares during the last quarter. Finally, Simplicity Wealth LLC boosted its holdings in shares of Boston Scientific by 1.3% in the second quarter. Simplicity Wealth LLC now owns 291,530 shares of the medical equipment provider’s stock worth $22,451,000 after buying an additional 3,708 shares during the period. Institutional investors and hedge funds 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.