JPMorgan Chase & Co. Increases Boston Scientific (NYSE:BSX) Price Target to $85.00

Boston Scientific (NYSE:BSX) had its price target upped by investment analysts at JPMorgan Chase & Co. from $82.00 to $85.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.82% from the stock’s previous close.

A number of other research analysts also recently commented on BSX. Argus increased their target price on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Canaccord Genuity Group boosted their price target on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley raised their price objective on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Raymond James upped their target price on Boston Scientific from $73.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 25th. Finally, Mizuho increased their price target on shares of Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.10.

Boston Scientific Price Performance

Shares of BSX stock traded up $0.35 during mid-day trading on Thursday, hitting $78.11. The company had a trading volume of 443,716 shares, compared to its average volume of 6,211,855. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The stock’s 50 day moving average price is $76.49 and its 200-day moving average price is $70.18. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $79.43. The company has a market capitalization of $114.60 billion, a P/E ratio of 65.63, a P/E/G ratio of 2.70 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. Equities research analysts forecast that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares in the company, valued at $1,521,641.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were 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 directly owns 41,374 shares in the company, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,259 shares of company stock worth $5,344,014. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of Boston Scientific

Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in Boston Scientific in the fourth quarter valued at $930,626,000. Putnam Investments LLC boosted its holdings in shares of Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after acquiring an additional 6,859,280 shares in the last quarter. Capital World Investors increased its stake in shares of Boston Scientific by 236.1% during the fourth quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after acquiring an additional 6,617,360 shares during the period. Capital Research Global Investors acquired a new stake in Boston Scientific in the first quarter valued at about $182,897,000. Finally, Vanguard Group Inc. boosted its holdings in Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after purchasing an additional 1,988,082 shares in the last quarter. Hedge funds and other 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.