Boston Scientific (NYSE:BSX) Price Target Raised to $110.00

Boston Scientific (NYSE:BSX) had its target price increased by JPMorgan Chase & Co. from $100.00 to $110.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

A number of other research analysts have also recently issued reports on the company. Bank of America raised their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. TD Cowen lifted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Raymond James increased their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Wells Fargo & Company upped their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.96.

Boston Scientific Stock Performance

NYSE:BSX opened at $88.03 on Monday. The company has a market capitalization of $129.74 billion, a price-to-earnings ratio of 72.75, a PEG ratio of 2.67 and a beta of 0.80. The business has a 50 day moving average of $88.22 and a 200 day moving average of $82.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific has a 1-year low of $54.95 and a 1-year high of $91.93.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the business posted $0.50 EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. On average, sell-side analysts predict that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 9.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the sale, the executive vice president now owns 29,308 shares in the company, valued at $2,660,580.24. The trade was a 19.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock valued at $27,957,676 in the last three months. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Several hedge funds have recently added to or reduced their stakes in the stock. Values First Advisors Inc. purchased a new position in shares of Boston Scientific in the 3rd quarter worth about $28,000. Dunhill Financial LLC raised its holdings in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares during the last quarter. Andra AP fonden bought a new position in shares of Boston Scientific in the second quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Boston Scientific in the third quarter worth approximately $30,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Boston Scientific during the third quarter valued at approximately $30,000. 89.07% of the stock is owned by institutional investors.

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.