Boston Scientific (NYSE:BSX) Price Target Increased to $78.00 by Analysts at Royal Bank of Canada

Boston Scientific (NYSE:BSX - Free Report) had its price objective upped by Royal Bank of Canada from $70.00 to $78.00 in a research report report published on Monday, Benzinga reports. They currently have an outperform rating on the medical equipment provider's stock.

Several other analysts have also recently weighed in on BSX. Oppenheimer boosted their price objective on Boston Scientific from $58.00 to $68.00 and gave the stock a market perform rating in a report on Thursday, February 1st. Raymond James upped their target price on shares of Boston Scientific from $67.00 to $73.00 and gave the company a strong-buy rating in a research report on Thursday, February 1st. BTIG Research restated a buy rating and issued a $64.00 price target on shares of Boston Scientific in a research report on Friday, December 29th. Needham & Company LLC increased their target price on shares of Boston Scientific from $60.00 to $71.00 and gave the stock a buy rating in a report on Thursday, February 1st. Finally, Citigroup increased their price target on Boston Scientific from $71.00 to $79.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Two 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 stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $68.50.

Boston Scientific Price Performance

NYSE:BSX traded down $0.63 during trading hours on Monday, reaching $67.44. The company had a trading volume of 6,526,779 shares, compared to its average volume of 6,374,410. The stock has a 50-day moving average of $66.99 and a two-hundred day moving average of $59.42. Boston Scientific has a one year low of $48.35 and a one year high of $69.21. The firm has a market capitalization of $98.94 billion, a PE ratio of 63.13, a PEG ratio of 2.38 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44.

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

Insider Activity at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares of the company's stock, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP John Bradley Sorenson sold 16,351 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares of the company's stock, valued at approximately $3,509,213.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the business's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the transaction, the director now 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 a total of 50,979 shares of company stock worth $3,418,529 over the last quarter. Company insiders own 0.50% of the company's stock.

Institutional Trading of Boston Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. Victory Capital Management Inc. grew its holdings in shares of Boston Scientific by 5.6% during the third quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider's stock valued at $27,353,000 after buying an additional 27,620 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider's stock worth $551,000 after acquiring an additional 1,123 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Boston Scientific by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider's stock valued at $98,683,000 after purchasing an additional 38,249 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Boston Scientific by 318.4% during the fourth quarter. International Assets Investment Management LLC now owns 89,031 shares of the medical equipment provider's stock valued at $51,470,000 after purchasing an additional 67,753 shares in the last quarter. Finally, Czech National Bank boosted its holdings in Boston Scientific by 50.4% during the third quarter. Czech National Bank now owns 255,916 shares of the medical equipment provider's stock worth $13,512,000 after purchasing an additional 85,706 shares during the last quarter. 89.07% of the stock is 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.