Boston Scientific (NYSE:BSX) Price Target Raised to $85.00

Boston Scientific (NYSE:BSX - Get Free Report) had its price objective boosted by investment analysts at Citigroup from $79.00 to $85.00 in a report issued on Thursday, Benzinga reports. The firm presently has a "buy" rating on the medical equipment provider's stock. Citigroup's price objective would indicate a potential upside of 15.96% from the company's previous close.

A number of other research analysts have also recently commented on BSX. StockNews.com cut shares of Boston Scientific from a "buy" rating to a "hold" rating in a research note on Saturday, March 16th. 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 note on Thursday. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $78.00 to $82.00 and gave the stock an "outperform" rating in a report on Thursday. BTIG Research reaffirmed a "buy" rating and set a $64.00 price objective on shares of Boston Scientific in a report on Friday, December 29th. Finally, Raymond James raised their price objective on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a "strong-buy" rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $74.27.

Boston Scientific Stock Up 0.5 %

Boston Scientific stock traded up $0.39 during mid-day trading on Thursday, hitting $73.30. 8,171,396 shares of the company's stock were exchanged, compared to its average volume of 6,560,629. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a market cap of $107.54 billion, a P/E ratio of 68.50, a P/E/G ratio of 2.42 and a beta of 0.78. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $74.39. The stock has a 50 day moving average of $67.53 and a two-hundred day moving average of $60.28.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the business posted $0.45 earnings per share. As a group, analysts anticipate that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP John Bradley Sorenson sold 16,351 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP John Bradley Sorenson sold 16,351 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,979 shares of company stock valued at $3,418,529. Company insiders own 0.50% of the company's stock.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSX. Bruce G. Allen Investments LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth about $28,000. Northwest Investment Counselors LLC acquired a new position in shares of Boston Scientific during the 1st quarter worth about $31,000. Sachetta LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth about $32,000. Frazier Financial Advisors LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth about $32,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Boston Scientific by 53.0% during the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider's stock worth $32,000 after purchasing an additional 193 shares during the last quarter. 89.07% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.