Boston Scientific (NYSE:BSX) PT Raised to $90.00 at Citigroup

Boston Scientific (NYSE:BSX) had its target price increased by analysts at Citigroup from $87.00 to $90.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price target indicates a potential upside of 17.07% from the stock’s current price.

Several other analysts have also recently weighed in on BSX. UBS Group boosted their price objective on Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Evercore ISI upped their price target on Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price target on shares of Boston Scientific in a research note on Tuesday, June 18th. Wells Fargo & Company upped their price target on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group started coverage on Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 price target for the company. Three 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.29.

Boston Scientific Stock Down 0.3 %

Shares of NYSE BSX opened at $76.88 on Wednesday. The firm’s 50-day simple moving average is $75.71 and its 200 day simple moving average is $68.80. The company has a market cap of $112.79 billion, a price-to-earnings ratio of 64.61, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $77.99.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. On average, research analysts expect that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s 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 completion of the transaction, the executive vice president now owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value 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 approximately $3,316,788.40. The disclosure for this sale can be found here. Insiders sold a total of 72,259 shares of company stock valued at $5,344,014 in the last quarter. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Boston Scientific in the fourth quarter valued at $930,626,000. Putnam Investments LLC boosted its holdings in shares of Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after buying an additional 6,859,280 shares during the period. Capital World Investors boosted its holdings in shares of Boston Scientific by 236.1% during the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after buying an additional 6,617,360 shares during the period. Capital Research Global Investors bought a new stake in shares of Boston Scientific during the 1st quarter worth about $182,897,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after buying an additional 1,988,082 shares during the period. Institutional investors and hedge funds 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.