Boston Scientific (NYSE:BSX) Price Target Raised to $101.00

Boston Scientific (NYSE:BSX) had its target price upped by research analysts at Canaccord Genuity Group from $98.00 to $101.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 12.92% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Evercore ISI boosted their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Morgan Stanley upped their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Mizuho boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein raised their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $93.52.

Boston Scientific Stock Down 0.7 %

NYSE BSX traded down $0.63 on Monday, reaching $89.44. 1,299,091 shares of the stock traded hands, compared to its average volume of 5,991,785. Boston Scientific has a 12 month low of $54.86 and a 12 month high of $91.93. The company has a market cap of $131.82 billion, a price-to-earnings ratio of 73.92, a PEG ratio of 2.65 and a beta of 0.80. The company has a fifty day moving average price of $87.40 and a 200-day moving average price of $81.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last issued 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. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the business earned $0.50 EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, research analysts forecast that Boston Scientific will post 2.46 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the sale, the director now directly owns 39,398 shares of the company’s stock, valued at $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. The trade was a 16.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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 Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BSX. Oddo BHF Asset Management Sas purchased a new position in shares of Boston Scientific during the 3rd quarter worth $35,046,000. Synovus Financial Corp increased its position in Boston Scientific by 7.1% during the third quarter. Synovus Financial Corp now owns 17,518 shares of the medical equipment provider’s stock worth $1,468,000 after purchasing an additional 1,167 shares during the last quarter. Tidal Investments LLC raised its stake in Boston Scientific by 8.8% during the third quarter. Tidal Investments LLC now owns 86,507 shares of the medical equipment provider’s stock worth $7,249,000 after purchasing an additional 6,990 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Boston Scientific in the 3rd quarter valued at about $1,175,000. Finally, World Investment Advisors LLC grew its stake in shares of Boston Scientific by 50.9% in the 3rd quarter. World Investment Advisors LLC now owns 11,684 shares of the medical equipment provider’s stock valued at $979,000 after buying an additional 3,939 shares during the period. 89.07% of the stock is owned by hedge funds and other 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.