Boston Scientific (NYSE:BSX) Given New $78.00 Price Target at Barclays

Boston Scientific (NYSE:BSX - Get Free Report) had its target price increased by stock analysts at Barclays from $70.00 to $78.00 in a report issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the medical equipment provider's stock. Barclays's target price would suggest a potential upside of 6.66% from the company's current price.

BSX has been the subject of several other research reports. Mizuho increased their target price on Boston Scientific from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday. UBS Group lifted their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday. Needham & Company LLC upped their target price on shares of Boston Scientific from $71.00 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday. TD Cowen raised their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the company an "outperform" rating in a research note on Thursday, March 7th. Finally, Robert W. Baird boosted their price target on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an "outperform" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $75.09.

Boston Scientific Stock Performance

Boston Scientific stock traded down $0.13 during trading on Friday, reaching $73.13. The company had a trading volume of 8,786,250 shares, compared to its average volume of 6,588,116. The firm has a market capitalization of $107.29 billion, a price-to-earnings ratio of 61.45, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. 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 firm's 50-day simple moving average is $67.82 and its 200 day simple moving average is $60.51. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $74.39.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same quarter last year, the company earned $0.45 earnings per share. Sell-side analysts forecast that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction dated Tuesday, February 20th. The shares were 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward J. Ludwig sold 7,000 shares of the company's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,979 shares of company stock worth $3,418,529. Insiders own 0.50% of the company's stock.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently modified their holdings of BSX. Highview Capital Management LLC DE increased its stake in shares of Boston Scientific by 65.7% during the first quarter. Highview Capital Management LLC DE now owns 18,280 shares of the medical equipment provider's stock valued at $1,252,000 after buying an additional 7,245 shares during the period. Northwest Bancshares Inc. bought a new stake in shares of Boston Scientific in the 1st quarter valued at about $242,000. YHB Investment Advisors Inc. bought a new position in shares of Boston Scientific during the first quarter valued at approximately $32,000. SYSTM Wealth Solutions LLC purchased a new stake in Boston Scientific during the first quarter worth $1,169,000. Finally, Sumitomo Life Insurance Co. increased its holdings in shares of Boston Scientific by 60.7% in the 1st quarter. Sumitomo Life Insurance Co. now owns 111,268 shares of the medical equipment provider's stock valued at $7,621,000 after acquiring an additional 42,009 shares during the period. Institutional investors own 89.07% of the company's stock.

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.