Boston Scientific (NYSE:BSX) Price Target Raised to $81.00

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

Other research analysts have also issued research reports about the stock. Wells Fargo & Company boosted their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Argus boosted their target price on Boston Scientific from $80.00 to $95.00 and gave the stock a buy rating in a research note on Tuesday, May 28th. Needham & Company LLC reiterated a buy rating and issued a $82.00 price target on shares of Boston Scientific in a research note on Tuesday, June 18th. Mizuho upped their price objective on shares of Boston Scientific from $85.00 to $90.00 and gave the company a buy rating in a report on Wednesday, May 15th. Finally, UBS Group lifted their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a buy rating in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of Moderate Buy and a consensus price target of $77.41.

Boston Scientific Price Performance

Shares of BSX opened at $76.11 on Tuesday. The stock has a market capitalization 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 50 day moving average price of $75.23 and a 200-day moving average price of $68.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $77.99.

Boston Scientific (NYSE:BSX) last announced its quarterly 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. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. Equities 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 Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the transaction, the executive vice president now owns 42,908 shares in the company, valued at $3,316,788.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the transaction, the executive vice president now owns 42,908 shares in the company, valued at approximately $3,316,788.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Insiders have sold 72,259 shares of company stock worth $5,344,014 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Boston Scientific by 14.6% during the 3rd quarter. AQR Capital Management LLC now owns 537,152 shares of the medical equipment provider’s stock worth $28,362,000 after purchasing an additional 68,478 shares during the last quarter. Truist Financial Corp boosted its position in Boston Scientific by 23.0% during the third quarter. Truist Financial Corp now owns 263,479 shares of the medical equipment provider’s stock worth $13,912,000 after acquiring an additional 49,323 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in Boston Scientific by 12.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after acquiring an additional 1,123 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in Boston Scientific in the 3rd quarter worth approximately $201,000. Finally, Lido Advisors LLC boosted its holdings in shares of Boston Scientific by 38.2% during the 3rd quarter. Lido Advisors LLC now owns 13,266 shares of the medical equipment provider’s stock worth $700,000 after purchasing an additional 3,669 shares during the last quarter. Hedge funds and other institutional investors 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.