Boston Scientific (NYSE:BSX) PT Raised to $43.00 at SVB Leerink

Boston Scientific (NYSE:BSX) had its target price lifted by stock analysts at SVB Leerink from $40.00 to $43.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “market perform” rating on the medical equipment provider’s stock. SVB Leerink’s price objective indicates a potential upside of 11.49% from the company’s current price.

Other analysts have also issued research reports about the company. Goldman Sachs Group upgraded Boston Scientific from a “neutral” rating to a “conviction-buy” rating and decreased their price objective for the company from $46.00 to $38.00 in a report on Wednesday, April 1st. Argus raised their price target on Boston Scientific from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Credit Suisse Group boosted their price target on Boston Scientific from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Citigroup increased their price objective on shares of Boston Scientific from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Morgan Stanley boosted their target price on shares of Boston Scientific from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.71.

NYSE:BSX opened at $38.57 on Thursday. Boston Scientific has a fifty-two week low of $24.10 and a fifty-two week high of $46.62. The stock has a market capitalization of $53.97 billion, a P/E ratio of 13.68, a P/E/G ratio of 3.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.80 and a current ratio of 1.21. The company’s 50-day simple moving average is $36.11 and its 200-day simple moving average is $37.19.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.12. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.68 billion. Boston Scientific had a net margin of 39.18% and a return on equity of 13.68%. Boston Scientific’s revenue was down 23.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. On average, research analysts forecast that Boston Scientific will post 0.92 EPS for the current year.

In other Boston Scientific news, EVP David A. Pierce sold 2,170 shares of the stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $38.00, for a total transaction of $82,460.00. Following the transaction, the executive vice president now directly owns 9,401 shares of the company’s stock, valued at $357,238. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Large investors have recently bought and sold shares of the business. NewSquare Capital LLC purchased a new position in shares of Boston Scientific in the first quarter valued at approximately $25,000. Global Retirement Partners LLC raised its stake in Boston Scientific by 75.0% in the 2nd quarter. Global Retirement Partners LLC now owns 714 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 306 shares during the last quarter. Baystate Wealth Management LLC lifted its holdings in Boston Scientific by 7,050.0% in the 2nd quarter. Baystate Wealth Management LLC now owns 715 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 705 shares in the last quarter. Key Financial Inc purchased a new stake in shares of Boston Scientific during the first quarter worth $28,000. Finally, Ellevest Inc. raised its position in shares of Boston Scientific by 129.8% in the first quarter. Ellevest Inc. now owns 1,018 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 575 shares during the last quarter. Institutional investors own 89.97% 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 three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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