TD Cowen Raises Boston Scientific (NYSE:BSX) Price Target to $86.00

Boston Scientific (NYSE:BSX) had its price target boosted by TD Cowen from $77.00 to $86.00 in a research report released on Tuesday, Benzinga reports. TD Cowen currently has a buy rating on the medical equipment provider’s stock.

BSX has been the subject of a number of other reports. Royal Bank of Canada increased their price objective on Boston Scientific from $78.00 to $82.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft raised their price target on Boston Scientific from $63.00 to $73.00 and gave the company a hold rating in a report on Thursday, April 25th. Needham & Company LLC reissued a buy rating and issued a $82.00 price target on shares of Boston Scientific in a report on Tuesday, June 18th. JPMorgan Chase & Co. raised their price target on Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a report on Thursday, April 25th. Finally, BTIG Research raised their price target on Boston Scientific from $80.00 to $84.00 and gave the company a buy rating in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $82.29.

Boston Scientific Stock Up 2.7 %

Boston Scientific stock opened at $77.58 on Tuesday. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $78.98. The stock has a 50 day moving average of $76.21 and a two-hundred day moving average of $69.67. 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 capitalization of $113.81 billion, a price-to-earnings ratio of 65.19, a PEG ratio of 2.66 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. As a group, research 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 Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was 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 owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Boston Scientific news, Director Edward J. Ludwig sold 9,818 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the transaction, the director now owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the transaction, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,259 shares of company stock valued at $5,344,014. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds have recently bought and sold shares of BSX. Eagle Bay Advisors LLC grew its position in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares during the period. First Foundation Advisors purchased a new stake in shares of Boston Scientific in the first quarter valued at $25,000. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific in the second quarter valued at $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Boston Scientific in the fourth quarter valued at $28,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Boston Scientific in the first quarter valued at $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.