Boston Scientific (NYSE:BSX) PT Raised to $84.00 at Robert W. Baird

Boston Scientific (NYSE:BSX) had its price objective hoisted by research analysts at Robert W. Baird from $79.00 to $84.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Robert W. Baird’s price target would indicate a potential upside of 14.86% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Argus boosted their price objective on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. BTIG Research reaffirmed a “buy” rating and issued a $64.00 target price on shares of Boston Scientific in a research report on Friday, December 29th. Needham & Company LLC lifted their target price on Boston Scientific from $71.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their target price on Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $75.09.

Boston Scientific Stock Down 0.2 %

NYSE BSX opened at $73.13 on Thursday. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $74.39. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $67.82 and its 200-day simple moving average is $60.51. The firm has a market cap of $107.29 billion, a PE ratio of 61.45, a P/E/G ratio of 2.48 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same quarter in the previous year, the firm earned $0.45 EPS. As a group, equities analysts anticipate that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in Boston Scientific by 5.6% during the third quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock worth $27,353,000 after acquiring an additional 27,620 shares during the period. Louisiana State Employees Retirement System acquired a new position in Boston Scientific during the fourth quarter worth $5,116,000. Glenmede Trust Co. NA grew its holdings in Boston Scientific by 12.1% during the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after acquiring an additional 1,123 shares during the period. Principal Financial Group Inc. grew its holdings in Boston Scientific by 2.1% during the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after acquiring an additional 38,249 shares during the period. Finally, HealthInvest Partners AB acquired a new position in Boston Scientific during the fourth quarter worth $3,746,000. 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.