Boston Scientific (NYSE:BSX) PT Raised to $95.00

Boston Scientific (NYSE:BSX) had its price objective boosted by Royal Bank of Canada from $85.00 to $95.00 in a research note issued to investors on Tuesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical equipment provider’s stock.

Several other brokerages also recently issued reports on BSX. Raymond James lifted their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a strong-buy rating in a research report on Wednesday, September 4th. Canaccord Genuity Group boosted their target price on Boston Scientific from $83.00 to $88.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Citigroup boosted their target price on Boston Scientific from $90.00 to $92.00 and gave the stock a buy rating in a research report on Thursday, August 22nd. Truist Financial boosted their target price on Boston Scientific from $86.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Finally, TD Cowen boosted their target price on Boston Scientific from $77.00 to $86.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $87.60.

Boston Scientific Trading Up 1.0 %

Shares of BSX opened at $87.10 on Tuesday. The stock has a fifty day moving average price of $81.21 and a two-hundred day moving average price of $76.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $87.28. The company has a market cap of $128.27 billion, a price-to-earnings ratio of 70.81, a PEG ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts predict that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 316,253 shares of company stock worth $26,714,298 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific during the second quarter worth about $26,000. First Foundation Advisors acquired a new position in Boston Scientific during the first quarter valued at approximately $25,000. Eagle Bay Advisors LLC boosted its position in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Andra AP fonden acquired a new position in Boston Scientific during the second quarter valued at approximately $29,000. Finally, Lynx Investment Advisory acquired a new position in Boston Scientific during the second quarter valued at approximately $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.