Boston Scientific (NYSE:BSX) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Boston Scientific (NYSE:BSX) in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a $85.00 price objective on the medical equipment provider’s stock.

A number of other equities research analysts have also recently commented on the company. Canaccord Genuity Group raised their price objective on Boston Scientific from $83.00 to $88.00 and gave the company a buy rating in a research note on Thursday. Morgan Stanley lifted their target price on Boston Scientific from $79.00 to $92.00 and gave the company an overweight rating in a research report on Monday, July 15th. The Goldman Sachs Group began coverage on Boston Scientific in a research report on Thursday, May 30th. They set a buy rating and a $90.00 target price on the stock. Raymond James lifted their target price on Boston Scientific from $73.00 to $85.00 and gave the company a strong-buy rating in a research report on Thursday, April 25th. Finally, Barclays lifted their target price on Boston Scientific from $70.00 to $78.00 and gave the company an overweight rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boston Scientific presently has an average rating of Moderate Buy and an average price target of $84.76.

Boston Scientific Trading Up 0.4 %

Shares of BSX stock opened at $74.57 on Thursday. The stock has a market cap of $109.40 billion, a price-to-earnings ratio of 62.40, a PEG ratio of 2.64 and a beta of 0.78. The stock has a 50-day moving average of $76.48 and a 200-day moving average of $70.20. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $79.43.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. On average, equities research analysts forecast that Boston Scientific will post 2.35 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was 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 directly owns 50,638 shares in the company, valued at approximately $3,620,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was 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 directly owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The disclosure for this sale can be found here. In the last three months, insiders sold 62,441 shares of company stock worth $4,624,453. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Boston Scientific during the 4th quarter valued at $930,626,000. Putnam Investments LLC boosted its stake in shares of Boston Scientific by 110.5% in the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after buying an additional 6,859,280 shares during the last quarter. Capital World Investors boosted its stake in shares of Boston Scientific by 236.1% in the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after buying an additional 6,617,360 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Boston Scientific in the 1st quarter worth $182,897,000. Finally, Vanguard Group Inc. boosted its stake in shares of Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after buying an additional 1,988,082 shares during the last quarter. 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.