Boston Scientific (NYSE:BSX) PT Raised to $110.00 at Mizuho

Boston Scientific (NYSE:BSX) had its target price upped by Mizuho from $100.00 to $110.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a report on Thursday. Raymond James boosted their price target on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Barclays boosted their price target on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, TD Cowen boosted their price target on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Stock Down 0.4 %

NYSE:BSX opened at $84.73 on Thursday. Boston Scientific has a 1 year low of $49.15 and a 1 year high of $88.79. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The stock has a market cap of $124.31 billion, a price-to-earnings ratio of 71.20, a PEG ratio of 2.87 and a beta of 0.80. The stock has a 50-day moving average price of $83.47 and a two-hundred day moving average price of $77.80.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 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 $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. As a group, equities analysts expect that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on 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 owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock worth $26,714,298 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of large investors have recently added to or reduced their stakes in BSX. Capital World Investors grew 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 worth $1,096,394,000 after buying an additional 6,588,256 shares in the last quarter. Marshall Wace LLP grew its position in Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after buying an additional 3,608,158 shares in the last quarter. Capital Research Global Investors acquired a new stake in Boston Scientific during the first quarter worth approximately $182,897,000. Vanguard Group Inc. grew its position in 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 worth $8,728,221,000 after buying an additional 1,988,082 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Boston Scientific by 30.0% during the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after buying an additional 1,824,405 shares in the last quarter. Institutional investors and hedge funds 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.