Boston Scientific Corporation (NYSE:BSX) Receives $116.09 Consensus Target Price from Brokerages

Shares of Boston Scientific Corporation (NYSE:BSX - Get Free Report) have been given an average rating of "Buy" by the twenty-four analysts that are currently covering the stock, Marketbeat reports. Twenty-one research analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $116.09.

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Citigroup reissued a "buy" rating and issued a $125.00 target price (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $115.00 target price on shares of Boston Scientific in a research note on Wednesday, May 28th.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the transaction, the executive vice president directly owned 22,235 shares in the company, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president owned 36,193 shares of the company's stock, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,970 shares of company stock valued at $47,755,193 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Boston Scientific by 1.3% during the first quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider's stock valued at $13,577,311,000 after purchasing an additional 1,697,945 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after purchasing an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock valued at $2,729,371,000 after purchasing an additional 1,041,329 shares during the last quarter. Capital World Investors raised its holdings in Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after acquiring an additional 6,216,199 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Boston Scientific by 2.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock worth $1,992,994,000 after acquiring an additional 554,388 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

NYSE BSX traded down $0.57 during trading hours on Monday, reaching $103.75. 5,892,140 shares of the stock traded hands, compared to its average volume of 6,663,150. The stock has a 50 day simple moving average of $103.45 and a two-hundred day simple moving average of $100.32. Boston Scientific has a 1 year low of $71.88 and a 1 year high of $107.53. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The company has a market cap of $153.49 billion, a price-to-earnings ratio of 75.73, a price-to-earnings-growth ratio of 2.71 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. During the same period last year, the firm earned $0.56 earnings per share. The company's revenue for the quarter was up 20.9% compared to the same quarter last year. On average, analysts predict that Boston Scientific will post 2.85 EPS for the current fiscal year.

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.