Brokerages Set Boston Scientific Co. (NYSE:BSX) Price Target at $82.29

Boston Scientific Co. (NYSE:BSX) has been given a consensus rating of “Moderate Buy” by the twenty-one brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $84.76.

A number of brokerages have recently commented on BSX. TD Cowen increased their price objective on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. UBS Group raised their target price on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, April 25th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday. Raymond James raised their target price on Boston Scientific from $85.00 to $91.00 and gave the company a “strong-buy” rating in a report on Thursday. Finally, Needham & Company LLC raised their target price on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the sale, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the sale, the executive vice president now owns 42,908 shares in the company, valued at $3,316,788.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,620,617. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,441 shares of company stock valued at $4,624,453. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several large investors have recently modified their holdings of BSX. CVA Family Office LLC grew its holdings in shares of Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after buying an additional 131 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in shares of Boston Scientific by 8.0% during the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after buying an additional 143 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Boston Scientific by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after buying an additional 148 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings 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 in the last quarter. Finally, KCM Investment Advisors LLC boosted its position in Boston Scientific by 1.7% during the first quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock valued at $632,000 after purchasing an additional 150 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Up 0.9 %

Shares of Boston Scientific stock opened at $74.95 on Monday. The stock has a 50-day moving average price of $76.49 and a 200 day moving average price of $70.32. The company has a market cap of $109.96 billion, a P/E ratio of 62.98, a P/E/G ratio of 2.64 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 has a 1 year low of $48.35 and a 1 year high of $79.43.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the business earned $0.53 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, analysts expect that Boston Scientific will post 2.35 EPS for the current fiscal year.

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.