Boston Scientific (NYSE:BSX) PT Raised to $85.00 at Mizuho

Boston Scientific (NYSE:BSX) had its target price hoisted by research analysts at Mizuho from $80.00 to $85.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Mizuho’s price target suggests a potential upside of 16.23% from the company’s previous close.

Several other research firms also recently weighed in on BSX. Needham & Company LLC boosted their target price on shares of Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird upped their target price on Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company lifted their price target on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada boosted their price target on Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Citigroup raised their price objective on Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $75.09.

Boston Scientific Stock Performance

Shares of BSX opened at $73.13 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. 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 has a 12 month low of $48.35 and a 12 month high of $74.39. The stock has a fifty day moving average price of $67.82 and a 200-day moving average price of $60.51.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the business posted $0.45 earnings per share. Equities research analysts predict that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Boston Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of the business. IFP Advisors Inc boosted its position in shares of Boston Scientific by 29.1% in the third quarter. IFP Advisors Inc now owns 5,026 shares of the medical equipment provider’s stock worth $265,000 after buying an additional 1,132 shares during the period. Private Trust Co. NA boosted its holdings in Boston Scientific by 498.8% in the 3rd quarter. Private Trust Co. NA now owns 5,132 shares of the medical equipment provider’s stock worth $271,000 after acquiring an additional 4,275 shares during the period. Czech National Bank grew its position in Boston Scientific by 50.4% in the third quarter. Czech National Bank now owns 255,916 shares of the medical equipment provider’s stock valued at $13,512,000 after acquiring an additional 85,706 shares in the last quarter. Blue Fin Capital Inc. raised its stake in shares of Boston Scientific by 19.9% during the third quarter. Blue Fin Capital Inc. now owns 8,024 shares of the medical equipment provider’s stock valued at $424,000 after purchasing an additional 1,334 shares during the period. Finally, WS Portfolio Advisory LLC purchased a new position in shares of Boston Scientific in the third quarter valued at $5,056,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.