Boston Scientific (NYSE:BSX) Price Target Raised to $98.00

Boston Scientific (NYSE:BSX) had its price objective raised by Citigroup from $92.00 to $98.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

BSX has been the subject of several other reports. Canaccord Genuity Group boosted their target price on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday. Mizuho boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday. Stifel Nicolaus upped their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Bank of America lifted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley increased their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

Shares of BSX traded down $1.19 during midday trading on Thursday, hitting $83.91. 1,199,659 shares of the company traded hands, compared to its average volume of 6,021,670. The stock has a 50-day moving average of $83.19 and a 200-day moving average of $77.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific has a one year low of $49.15 and a one year high of $88.79. The firm has a market cap of $123.10 billion, a P/E ratio of 71.52, a PEG ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. As a group, sell-side analysts predict that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Large investors have recently made changes to their positions in the business. MONECO Advisors LLC boosted its holdings in Boston Scientific by 7.6% in the third quarter. MONECO Advisors LLC now owns 3,861 shares of the medical equipment provider’s stock worth $324,000 after acquiring an additional 272 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Boston Scientific by 1.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 377,826 shares of the medical equipment provider’s stock valued at $31,662,000 after purchasing an additional 4,959 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in Boston Scientific by 11.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 13,718 shares of the medical equipment provider’s stock worth $1,150,000 after buying an additional 1,445 shares during the last quarter. Cavalier Investments LLC raised its holdings in Boston Scientific by 6.7% in the third quarter. Cavalier Investments LLC now owns 71,841 shares of the medical equipment provider’s stock worth $6,020,000 after buying an additional 4,485 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Boston Scientific by 1.7% in the third quarter. State of Alaska Department of Revenue now owns 178,166 shares of the medical equipment provider’s stock worth $14,929,000 after buying an additional 2,955 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.