Boston Scientific (NYSE:BSX) PT Raised to $81.00 at Evercore ISI

Boston Scientific (NYSE:BSX) had its price target hoisted by equities researchers at Evercore ISI from $78.00 to $81.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Evercore ISI’s price objective would indicate a potential upside of 6.42% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. TD Cowen increased their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday. Argus upped their price objective on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Barclays lifted their target price on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company upped their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.41.

Boston Scientific Stock Performance

Shares of BSX stock opened at $76.11 on Tuesday. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $77.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The firm has a market capitalization of $111.66 billion, a price-to-earnings ratio of 63.96, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78. The business has a 50 day simple moving average of $75.16 and a 200 day simple moving average of $67.96.

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

Insider Buying and Selling

In other Boston Scientific news, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Boston Scientific news, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total value of $286,874.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the sale, the director now owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,259 shares of company stock valued at $5,344,014. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BSX. Massmutual Trust Co. FSB ADV boosted its holdings in Boston Scientific by 17.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 4,690 shares of the medical equipment provider’s stock worth $361,000 after purchasing an additional 705 shares in the last quarter. First Hawaiian Bank lifted its position in shares of Boston Scientific by 13.6% in the second quarter. First Hawaiian Bank now owns 55,859 shares of the medical equipment provider’s stock worth $4,302,000 after buying an additional 6,668 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Boston Scientific by 29.7% during the 2nd quarter. GAMMA Investing LLC now owns 12,460 shares of the medical equipment provider’s stock worth $960,000 after acquiring an additional 2,854 shares in the last quarter. Transcend Capital Advisors LLC increased its holdings in shares of Boston Scientific by 2.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 148 shares during the last quarter. Finally, Bank of New Hampshire bought a new position in shares of Boston Scientific in the 2nd quarter valued at approximately $113,000. 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.