Morgan Stanley Raises Boston Scientific (NYSE:BSX) Price Target to $92.00

Boston Scientific (NYSE:BSX) had its price target upped by Morgan Stanley from $79.00 to $92.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. Morgan Stanley’s target price indicates a potential upside of 17.86% from the company’s previous close.

BSX has been the topic of several other research reports. Raymond James lifted their target price on shares of Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. lifted their target price 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. Evercore ISI lifted their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Robert W. Baird lifted their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $80.71.

Boston Scientific Stock Performance

NYSE BSX traded up $0.37 during trading on Monday, reaching $78.06. The company’s stock had a trading volume of 2,880,517 shares, compared to its average volume of 6,136,945. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The firm has a market cap of $114.52 billion, a price-to-earnings ratio of 65.60, a P/E/G ratio of 2.67 and a beta of 0.78. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $78.98. The business’s fifty day moving average price is $75.81 and its 200-day moving average price is $69.14.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. As a group, analysts anticipate that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now directly owns 41,374 shares in the company, valued at $3,032,300.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,620,617. The disclosure for this sale can be found here. Insiders sold a total of 72,259 shares of company stock worth $5,344,014 over the last ninety days. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BSX. Eagle Bay Advisors LLC boosted its stake in Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. First Foundation Advisors bought a new position in Boston Scientific during the 1st quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new position in Boston Scientific during the 4th quarter valued at $28,000. RiverPark Advisors LLC bought a new position in Boston Scientific during the 1st quarter valued at $30,000. Finally, Lynx Investment Advisory acquired a new stake in shares of Boston Scientific during the second quarter worth $30,000. 89.07% of the stock is currently owned by institutional investors.

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.