Stifel Nicolaus Forecasts Strong Price Appreciation for Boston Scientific (NYSE:BSX) Stock

Boston Scientific (NYSE:BSX) had its price target upped by Stifel Nicolaus from $100.00 to $115.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Stifel Nicolaus’ target price indicates a potential upside of 9.20% from the stock’s previous close.

A number of other analysts also recently commented on the company. Raymond James upped their price objective on Boston Scientific from $101.00 to $119.00 and gave the stock a “strong-buy” rating in a report on Friday, January 31st. Royal Bank of Canada raised their target price on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday. Canaccord Genuity Group lifted their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Thursday. One analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of “Buy” and a consensus target price of $104.13.

Boston Scientific Stock Up 0.3 %

Boston Scientific stock traded up $0.35 during midday trading on Thursday, reaching $105.32. The company’s stock had a trading volume of 2,134,038 shares, compared to its average volume of 6,104,432. Boston Scientific has a fifty-two week low of $64.39 and a fifty-two week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company has a market cap of $155.22 billion, a P/E ratio of 87.03, a P/E/G ratio of 2.68 and a beta of 0.80. The business has a 50-day simple moving average of $94.30 and a 200-day simple moving average of $86.84.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. On average, research analysts expect that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,302 shares of company stock worth $4,464,725 over the last quarter. 0.50% of the stock is currently owned by insiders.

Institutional Trading of Boston Scientific

Several hedge funds and other institutional investors have recently bought and sold shares of BSX. CRA Financial Services LLC raised its stake in Boston Scientific by 4.3% during the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Boston Scientific by 9.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 119 shares during the period. Adero Partners LLC raised its stake in Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after buying an additional 120 shares during the period. Grove Bank & Trust raised its stake in Boston Scientific by 4.4% during the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after buying an additional 122 shares during the period. Finally, PFG Investments LLC raised its stake in Boston Scientific by 1.6% during the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds 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.