Robert W. Baird Boosts Boston Scientific (NYSE:BSX) Price Target to $91.00

Boston Scientific (NYSE:BSX) had its target price raised by Robert W. Baird from $90.00 to $91.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

Other analysts have also recently issued reports about the company. TD Cowen upped their target price on Boston Scientific from $77.00 to $86.00 and gave the company a buy rating in a research report on Tuesday, July 16th. Citigroup increased their price objective on Boston Scientific from $87.00 to $90.00 and gave the company a buy rating in a report on Wednesday, July 10th. Argus lifted their target price on shares of Boston Scientific from $80.00 to $95.00 and gave the company a buy rating in a report on Tuesday, May 28th. Wells Fargo & Company increased their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Finally, Mizuho boosted their price target on Boston Scientific from $85.00 to $90.00 and gave the company a buy rating in a research report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific has an average rating of Moderate Buy and an average target price of $84.76.

Boston Scientific Stock Up 0.9 %

BSX stock opened at $74.92 on Thursday. The company’s 50 day moving average is $76.49 and its two-hundred day moving average is $70.47. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $79.43. 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 $109.92 billion, a P/E ratio of 62.96, a PEG ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the business earned $0.53 EPS. Boston Scientific’s revenue for the quarter was up 14.5% compared to the same quarter last year. Research analysts expect that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,620,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles J. Dockendorff sold 3,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,441 shares of company stock worth $4,624,453. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System acquired a new position in Boston Scientific during the fourth quarter worth about $5,116,000. Sierra Summit Advisors LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $8,038,000. TD Asset Management Inc lifted its stake in Boston Scientific by 10.7% in the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock valued at $93,417,000 after buying an additional 155,565 shares in the last quarter. HealthInvest Partners AB acquired a new stake in Boston Scientific during the 4th quarter valued at $3,746,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in Boston Scientific by 225.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after buying an additional 73,219 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.