Boston Scientific (NYSE:BSX) PT Raised to $93.00 at BTIG Research

Boston Scientific (NYSE:BSX) had its price objective boosted by BTIG Research from $84.00 to $93.00 in a report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

A number of other analysts also recently issued reports on BSX. TD Cowen raised their price objective on Boston Scientific from $77.00 to $86.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a hold rating in a research note on Thursday, July 25th. Raymond James increased their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a strong-buy rating in a research report on Wednesday, September 4th. Needham & Company LLC boosted their target price on Boston Scientific from $82.00 to $86.00 and gave the company a buy rating in a research report on Thursday, July 25th. Finally, Barclays lifted their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an overweight rating in a research note on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has an average rating of Moderate Buy and an average target price of $88.55.

Boston Scientific Stock Performance

NYSE BSX opened at $87.55 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The stock’s fifty day moving average is $81.50 and its two-hundred day moving average is $76.69. The firm has a market capitalization of $128.44 billion, a P/E ratio of 73.57, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. 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 announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. On average, research analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This 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. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’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 transaction, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 316,253 shares of company stock valued at $26,714,298. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of large investors have recently made changes to their positions in the company. Eagle Bay Advisors LLC lifted its stake in Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. First Foundation Advisors purchased a new stake in Boston Scientific in the 1st quarter valued at $25,000. Triad Wealth Partners LLC acquired a new stake in Boston Scientific during the 2nd quarter worth $26,000. Andra AP fonden purchased a new position in Boston Scientific during the 2nd quarter worth $29,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Boston Scientific in the first quarter valued at about $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

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.