Robert W. Baird Issues Positive Forecast for Boston Scientific (NYSE:BSX) Stock Price

Boston Scientific (NYSE:BSX - Get Free Report) had its target price lifted by Robert W. Baird from $117.00 to $123.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the medical equipment provider's stock. Robert W. Baird's price objective would indicate a potential upside of 15.96% from the company's current price.

A number of other research analysts also recently commented on the company. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $115.00 target price on shares of Boston Scientific in a research note on Wednesday, May 28th. Raymond James Financial set a $121.00 target price on Boston Scientific and gave the stock a "strong-buy" rating in a research note on Monday. Jefferies Financial Group reissued a "hold" rating on shares of Boston Scientific in a research note on Monday. Finally, Barclays boosted their target price on Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $117.50.

Boston Scientific Stock Down 0.1%

Shares of BSX traded down $0.14 during mid-day trading on Thursday, hitting $106.07. 5,875,124 shares of the company's stock were exchanged, compared to its average volume of 7,847,640. Boston Scientific has a 52 week low of $71.88 and a 52 week high of $108.94. 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 50-day simple moving average of $103.58 and a 200 day simple moving average of $101.51. The company has a market cap of $156.92 billion, a PE ratio of 63.14, a P/E/G ratio of 2.67 and a beta of 0.68.

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

Insiders Place Their Bets

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the transaction, the chief executive officer directly owned 1,476,882 shares of the company's stock, valued at approximately $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the completion of the transaction, the executive vice president owned 178,342 shares in the company, valued at approximately $18,347,824.96. This represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 457,144 shares of company stock valued at $47,296,288 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Large investors have recently modified their holdings of the company. Bank Pictet & Cie Europe AG raised its position in Boston Scientific by 40.8% in the 4th 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. Oppenheimer & Co. Inc. raised its position in Boston Scientific by 18.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock valued at $3,987,000 after buying an additional 6,264 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Boston Scientific in the 1st quarter valued at $8,234,000. Blue Trust Inc. raised its position in Boston Scientific by 13.0% in the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock valued at $504,000 after buying an additional 575 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in Boston Scientific by 109.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider's stock valued at $24,126,000 after buying an additional 141,398 shares during the last quarter. 89.07% of the stock is currently 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.