Raymond James Raises Boston Scientific (NYSE:BSX) Price Target to $91.00

Boston Scientific (NYSE:BSX) had its price target raised by equities researchers at Raymond James from $85.00 to $91.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the medical equipment provider’s stock. Raymond James’ target price suggests a potential upside of 20.32% from the company’s current price.

BSX has been the topic of a number of other reports. Mizuho raised their price objective on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Argus boosted 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. Wells Fargo & Company increased their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. TD Cowen lifted their target price on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, The Goldman Sachs Group assumed coverage on Boston Scientific in a report on Thursday, May 30th. They issued a “buy” rating and a $90.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.76.

Boston Scientific Trading Down 2.7 %

Shares of NYSE BSX traded down $2.13 on Thursday, reaching $75.63. 4,628,722 shares of the company traded hands, compared to its average volume of 6,240,645. The stock has a market capitalization of $110.96 billion, a PE ratio of 63.87, a P/E/G ratio of 2.70 and a beta of 0.78. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $79.43. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $76.49 and a 200 day moving average of $70.18.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. Boston Scientific’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. On average, equities research analysts forecast that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares in the company, valued at approximately $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction 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 $3,316,788.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares in the company, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Insiders have sold a total of 72,259 shares of company stock valued at $5,344,014 over the last three months. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors have recently bought and sold shares of BSX. Vanguard Group Inc. raised its holdings in shares of Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Boston Scientific by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock valued at $2,191,326,000 after purchasing an additional 550,490 shares in the last quarter. Norges Bank purchased a new position in shares of Boston Scientific during the fourth quarter valued at $930,626,000. Capital World Investors raised its position in Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after buying an additional 6,588,256 shares during the period. Finally, Putnam Investments LLC raised its position in Boston Scientific by 110.5% during the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after buying an additional 6,859,280 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.