Evercore ISI Increases Boston Scientific (NYSE:BSX) Price Target to $78.00

Boston Scientific (NYSE:BSX) had its price objective raised by equities research analysts at Evercore ISI from $72.00 to $78.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Evercore ISI’s target price would suggest a potential upside of 6.66% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Oppenheimer increased their target price on Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, February 1st. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Mizuho raised Boston Scientific from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $80.00 in a research note on Thursday, February 1st. JPMorgan Chase & Co. increased their target price on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, Citigroup increased their target price 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 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.09.

Boston Scientific Price Performance

Shares of BSX stock opened at $73.13 on Thursday. The stock has a market cap of $107.29 billion, a price-to-earnings ratio of 61.45, a PEG ratio of 2.48 and a beta of 0.78. The business’s fifty day moving average is $67.82 and its 200 day moving average is $60.51. Boston Scientific has a twelve month low of $48.35 and a twelve month 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.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same period in the prior year, the firm earned $0.45 earnings per share. Research analysts expect that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BSX. Bruce G. Allen Investments LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $28,000. Northwest Investment Counselors LLC purchased a new stake in shares of Boston Scientific during the first quarter worth about $31,000. Sachetta LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $32,000. Frazier Financial Advisors LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $32,000. Finally, Jones Financial Companies Lllp grew its position in shares of Boston Scientific by 53.0% during the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 193 shares in the last quarter. Institutional investors 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.