Oppenheimer Increases Boston Scientific (NYSE:BSX) Price Target to $118.00

Boston Scientific (NYSE:BSX - Get Free Report) had its price objective boosted by stock analysts at Oppenheimer from $110.00 to $118.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "market perform" rating on the medical equipment provider's stock. Oppenheimer's target price would indicate a potential upside of 11.25% from the stock's current price.

Several other equities research analysts have also commented on the company. Raymond James Financial set a $121.00 price objective on Boston Scientific and gave the stock a "strong-buy" rating in a research note on Monday, July 21st. Leerink Partnrs upgraded Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Barclays increased their price target on Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research note on Thursday. Needham & Company LLC reiterated a "buy" rating and issued a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $117.50.

Boston Scientific Stock Performance

Shares of NYSE BSX traded down $0.14 during midday trading on Thursday, hitting $106.07. 5,875,124 shares of the stock traded hands, compared to its average volume of 7,847,640. The firm has a 50-day moving average of $103.58 and a two-hundred day moving average of $101.55. The firm has a market capitalization of $156.92 billion, a P/E ratio of 63.14, a PEG ratio of 2.67 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. Boston Scientific has a one year low of $71.88 and a one year high of $108.94.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The company's revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. On average, equities analysts forecast that Boston Scientific will post 2.85 EPS for the current fiscal year.

Insider Activity

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 sale, the executive vice president owned 22,235 shares of the company's stock, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the sale, the chief executive officer directly owned 1,476,882 shares of the company's stock, valued at $153,137,894.58. This represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 457,144 shares of company stock worth $47,296,288 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently modified their holdings of BSX. Brighton Jones LLC raised its stake in shares of Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after acquiring an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Boston Scientific by 40.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after buying an additional 21,173 shares during the last quarter. Highview Capital Management LLC DE grew its holdings in shares of Boston Scientific by 6.2% during the fourth quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock valued at $2,189,000 after buying an additional 1,439 shares during the last quarter. Modern Wealth Management LLC acquired a new stake in Boston Scientific during the 4th quarter worth about $269,000. Finally, FineMark National Bank & Trust acquired a new stake in Boston Scientific during the 4th quarter worth about $206,000. Institutional investors own 89.07% of the company's stock.

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.