Boston Scientific (NYSE:BSX) Given New $110.00 Price Target at JPMorgan Chase & Co.

Boston Scientific (NYSE:BSX) had its price target hoisted by JPMorgan Chase & Co. from $100.00 to $110.00 in a research note published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical equipment provider’s stock.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus increased their target price on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. Mizuho raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley upped their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup lifted their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Truist Financial upped their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.96.

Boston Scientific Price Performance

BSX opened at $88.03 on Monday. The company’s 50-day simple moving average is $88.22 and its two-hundred day simple moving average is $82.12. Boston Scientific has a 52-week low of $54.95 and a 52-week high of $91.93. The stock has a market capitalization of $129.74 billion, a P/E ratio of 72.75, a P/E/G ratio of 2.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (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 11.26% and a return on equity of 17.23%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company posted $0.50 earnings per share. As a group, analysts predict that Boston Scientific will post 2.46 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 328,157 shares of company stock valued at $27,957,676 in the last 90 days. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Hedge funds have recently made changes to their positions in the business. Values First Advisors Inc. purchased a new position in Boston Scientific in the third quarter worth about $28,000. Dunhill Financial LLC boosted its holdings in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares during the period. Andra AP fonden bought a new position in shares of Boston Scientific during the 2nd quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Boston Scientific during the 3rd quarter valued at $30,000. Finally, Capital Performance Advisors LLP bought a new stake in Boston Scientific in the third quarter worth $30,000. 89.07% of the stock is currently owned by hedge funds and other 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.