Boston Scientific (NYSE:BSX) Sets New 1-Year High at $74.39

Boston Scientific Co. (NYSE:BSX - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $74.39 and last traded at $73.77, with a volume of 3638035 shares. The stock had previously closed at $68.99.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Boston Scientific from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, April 4th. BTIG Research reiterated a "buy" rating and set a $64.00 price target on shares of Boston Scientific in a research report on Friday, December 29th. Citigroup boosted their price objective on Boston Scientific from $71.00 to $79.00 and gave the company a "buy" rating in a research report on Wednesday, April 3rd. Oppenheimer increased their target price on Boston Scientific from $58.00 to $68.00 and gave the stock a "market perform" rating in a research report on Thursday, February 1st. Finally, Needham & Company LLC boosted their price target on shares of Boston Scientific from $71.00 to $82.00 and gave the company a "buy" rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $69.00.

Boston Scientific Stock Up 5.7 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The stock's fifty day simple moving average is $67.39 and its two-hundred day simple moving average is $60.19. The company has a market capitalization of $106.97 billion, a price-to-earnings ratio of 68.14, a P/E/G ratio of 2.38 and a beta of 0.78.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same period in the prior year, the business earned $0.45 earnings per share. On average, sell-side analysts anticipate that Boston Scientific Co. will post 2.25 EPS for the current year.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now directly owns 41,374 shares of the company's stock, valued at $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares of the company's stock, valued at approximately $3,779,820.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock valued at $3,418,529 over the last three months. Company insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AE Wealth Management LLC grew its holdings in shares of Boston Scientific by 9.9% during the 3rd quarter. AE Wealth Management LLC now owns 34,374 shares of the medical equipment provider's stock valued at $1,815,000 after acquiring an additional 3,091 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Boston Scientific by 29.1% in the third quarter. IFP Advisors Inc now owns 5,026 shares of the medical equipment provider's stock valued at $265,000 after buying an additional 1,132 shares during the period. Park Place Capital Corp bought a new position in Boston Scientific in the third quarter worth $56,000. Private Trust Co. NA boosted its holdings in Boston Scientific by 498.8% during the third quarter. Private Trust Co. NA now owns 5,132 shares of the medical equipment provider's stock valued at $271,000 after purchasing an additional 4,275 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Boston Scientific by 9.7% during the 3rd quarter. Proficio Capital Partners LLC now owns 4,062 shares of the medical equipment provider's stock worth $214,000 after buying an additional 358 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.