Boston Scientific (NYSE:BSX) Reaches New 12-Month High on Analyst Upgrade

Shares of Boston Scientific Co. (NYSE:BSX - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $85.00 to $90.00. Mizuho currently has a buy rating on the stock. Boston Scientific traded as high as $74.67 and last traded at $74.57, with a volume of 897423 shares. The stock had previously closed at $73.49.

A number of other research firms have also recently weighed in on BSX. JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an "overweight" rating in a research report on Thursday, April 25th. Evercore ISI increased their price target on Boston Scientific from $72.00 to $78.00 and gave the company an "outperform" rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Scientific from $63.00 to $73.00 and gave the stock a "hold" rating in a report on Thursday, April 25th. UBS Group raised their price target on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, April 25th. Finally, Argus upped their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $75.32.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares of the company's stock, valued at approximately $17,883,756.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now owns 271,542 shares in the company, valued at approximately $17,883,756.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Eric Francis Yves Thepaut sold 12,931 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $74.14, for a total value of $958,704.34. Following the sale, the executive vice president now owns 31,422 shares of the company's stock, valued at approximately $2,329,627.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,261 shares of company stock valued at $6,185,929. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently modified their holdings of the stock. Eagle Bay Advisors LLC lifted its position in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. First Foundation Advisors purchased a new stake in shares of Boston Scientific in the first quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Boston Scientific in the fourth quarter valued at $28,000. RiverPark Advisors LLC purchased a new stake in shares of Boston Scientific in the first quarter valued at $30,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Boston Scientific in the first quarter valued at $31,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Price Performance

The stock has a fifty day moving average price of $69.32 and a 200-day moving average price of $62.56. The company has a market cap of $109.23 billion, a PE ratio of 62.63, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14.

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.