Boston Scientific (NYSE:BSX) Price Target Raised to $78.00 at Deutsche Bank Aktiengesellschaft

Boston Scientific (NYSE:BSX) had its price target upped by research analysts at Deutsche Bank Aktiengesellschaft from $73.00 to $78.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “hold” rating on the medical equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 3.13% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Citigroup upped their target price on shares of Boston Scientific from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Truist Financial raised their target price on shares of Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Raymond James boosted their price target on Boston Scientific from $85.00 to $91.00 and gave the stock a “strong-buy” rating in a research report on Thursday. BTIG Research raised their price objective on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, The Goldman Sachs Group started coverage on Boston Scientific in a report on Thursday, May 30th. They issued a “buy” rating and a $90.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

Boston Scientific Trading Down 2.7 %

BSX stock traded down $2.13 during trading on Thursday, reaching $75.63. The company had a trading volume of 4,628,722 shares, compared to its average volume of 6,240,645. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $79.43. The business has a 50 day moving average of $76.49 and a 200 day moving average of $70.18. The company has a market cap of $110.96 billion, a P/E ratio of 63.87, a PEG ratio of 2.70 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Charles J. Dockendorff sold 3,946 shares of the business’s stock in a transaction that occurred 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 legal filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The disclosure for this sale can be found here. Insiders sold a total of 72,259 shares of company stock valued at $5,344,014 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $26,000. First Foundation Advisors purchased a new stake in Boston Scientific during the first quarter valued at $25,000. Eagle Bay Advisors LLC lifted its position in Boston Scientific by 542.1% during 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 last quarter. Lynx Investment Advisory purchased a new position in shares of Boston Scientific in the 2nd quarter worth $30,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Boston Scientific in the 1st quarter worth about $30,000. 89.07% of the stock is owned by institutional investors.

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.