Stifel Nicolaus Forecasts Strong Price Appreciation for Boston Scientific (NYSE:BSX) Stock

Boston Scientific (NYSE:BSX) had its target price increased by equities research analysts at Stifel Nicolaus from $100.00 to $115.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 9.20% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. BTIG Research boosted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. TD Cowen upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Canaccord Genuity Group increased their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Bank of America upped their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $104.13.

Boston Scientific Stock Performance

BSX traded up $0.35 during midday trading on Thursday, hitting $105.32. 2,134,038 shares of the company were exchanged, compared to its average volume of 6,104,432. The company’s 50 day simple moving average is $94.30 and its 200 day simple moving average is $86.84. The firm has a market capitalization of $155.22 billion, a price-to-earnings ratio of 87.03, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific has a 1-year low of $64.39 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. As a group, sell-side analysts predict that Boston Scientific will post 2.46 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the sale, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. This represents a 19.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,302 shares of company stock worth $4,464,725. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BSX. TFC Financial Management Inc. boosted its stake in Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 210 shares in the last quarter. Global Wealth Strategies & Associates raised its holdings in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. West Oak Capital LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at approximately $29,000. Dunhill Financial LLC raised its holdings in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. Finally, Values First Advisors Inc. bought a new position in Boston Scientific in the third quarter worth $28,000. 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.