BTIG Research Boosts Boston Scientific (NYSE:BSX) Price Target to $93.00

Boston Scientific (NYSE:BSX) had its target price hoisted by equities researchers at BTIG Research from $84.00 to $93.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. BTIG Research’s target price would suggest a potential upside of 6.72% from the company’s current price.

A number of other equities research analysts also recently issued reports on BSX. Barclays boosted their price target on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC raised their price target on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Robert W. Baird boosted their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Morgan Stanley upped their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.55.

Boston Scientific Trading Up 0.0 %

Shares of BSX stock traded up $0.04 during mid-day trading on Monday, hitting $87.14. 1,719,008 shares of the company’s stock were exchanged, compared to its average volume of 5,952,555. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock has a market cap of $127.84 billion, a price-to-earnings ratio of 73.23, a PEG ratio of 2.87 and a beta of 0.80. The stock has a 50-day simple moving average of $81.21 and a two-hundred day simple moving average of $76.55. Boston Scientific has a fifty-two week low of $49.15 and a fifty-two week high of $87.79.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. Equities analysts expect that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Several large investors have recently added to or reduced their stakes in BSX. Eagle Bay Advisors LLC lifted its stake in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. First Foundation Advisors bought a new stake in Boston Scientific in the first quarter valued at $25,000. Triad Wealth Partners LLC bought a new stake in Boston Scientific in the second quarter valued at $26,000. Andra AP fonden bought a new stake in Boston Scientific in the second quarter valued at $29,000. Finally, RiverPark Advisors LLC bought a new stake in Boston Scientific in the first quarter valued at $30,000. 89.07% of the stock is currently owned by 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.