Boston Scientific (NYSE:BSX) Price Target Raised to $98.00 at Canaccord Genuity Group

Boston Scientific (NYSE:BSX) had its price target lifted by Canaccord Genuity Group from $88.00 to $98.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

Several other analysts have also issued reports on BSX. BTIG Research increased their target price on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Stifel Nicolaus boosted their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Price Performance

NYSE:BSX opened at $85.11 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The firm has a market cap of $124.86 billion, a price-to-earnings ratio of 71.52, a P/E/G ratio of 2.87 and a beta of 0.80. Boston Scientific has a 52 week low of $49.15 and a 52 week high of $88.79. The firm’s 50-day simple moving average is $83.19 and its 200 day simple moving average is $77.57.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. As a group, sell-side analysts predict that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock valued at $26,714,298 over the last 90 days. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

A number of institutional investors have recently bought and sold shares of BSX. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Boston Scientific by 225.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock valued at $7,237,000 after purchasing an additional 73,219 shares in the last quarter. BDF Gestion acquired a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $3,570,000. Tlwm bought a new stake in shares of Boston Scientific in the 1st quarter valued at $927,000. LRI Investments LLC acquired a new position in shares of Boston Scientific during the 1st quarter valued at $139,000. Finally, Cetera Advisor Networks LLC boosted its stake in Boston Scientific by 11.8% during the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after acquiring an additional 21,252 shares in the last quarter. 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.