Boston Scientific (NYSE:BSX) PT Raised to $81.00 at Evercore ISI

Boston Scientific (NYSE:BSX) had its price target hoisted by Evercore ISI from $78.00 to $81.00 in a report published on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

Other equities analysts also recently issued reports about the stock. Argus increased their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a buy rating in a research note on Tuesday, May 28th. Citigroup raised their price target on Boston Scientific from $85.00 to $87.00 and gave the company a buy rating in a research note on Wednesday, May 22nd. Mizuho upped their price objective on Boston Scientific from $85.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a report on Thursday, April 25th. Finally, TD Cowen increased their price target 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. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific currently has an average rating of Moderate Buy and an average price target of $77.41.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $76.11 on Tuesday. The company has a fifty day moving average price of $75.23 and a 200 day moving average price of $68.02. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $77.99. The firm has a market cap of $111.66 billion, a PE ratio of 63.96, a PEG ratio of 2.63 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. Research analysts predict that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Activity

In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,259 shares of company stock worth $5,344,014. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BSX. Massmutual Trust Co. FSB ADV grew its position in shares of Boston Scientific by 17.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,690 shares of the medical equipment provider’s stock valued at $361,000 after buying an additional 705 shares during the last quarter. First Hawaiian Bank raised its holdings in Boston Scientific by 13.6% during the 2nd quarter. First Hawaiian Bank now owns 55,859 shares of the medical equipment provider’s stock worth $4,302,000 after purchasing an additional 6,668 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Boston Scientific by 29.7% in the 2nd quarter. GAMMA Investing LLC now owns 12,460 shares of the medical equipment provider’s stock valued at $960,000 after purchasing an additional 2,854 shares during the last quarter. Transcend Capital Advisors LLC increased its position in shares of Boston Scientific by 2.2% during the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 148 shares during the period. Finally, Bank of New Hampshire acquired a new position in Boston Scientific in the second quarter valued at $113,000. 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.