Boston Scientific (NYSE:BSX) Given New $100.00 Price Target at TD Cowen

Boston Scientific (NYSE:BSX) had its price target raised by TD Cowen from $86.00 to $100.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

BSX has been the subject of several other research reports. Needham & Company LLC downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research note on Friday. Evercore ISI raised their target price on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Morgan Stanley upped their price target on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Barclays raised their price objective on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.24.

Boston Scientific Trading Down 0.0 %

Shares of BSX stock opened at $88.05 on Monday. Boston Scientific has a twelve month low of $49.15 and a twelve month high of $88.79. The stock’s fifty day simple moving average is $82.73 and its 200 day simple moving average is $77.37. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $129.18 billion, a P/E ratio of 73.99, a P/E/G ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping 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 company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the business posted $0.53 earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts predict that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’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 transaction of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Boston Scientific by 1.6% in 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 purchasing an additional 1,988,082 shares during the last quarter. Capital World Investors raised its stake in shares of Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares during the period. Legal & General Group Plc raised its stake in shares of Boston Scientific by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock worth $1,072,195,000 after purchasing an additional 360,793 shares during the period. 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 valued at $608,349,000 after buying an additional 1,824,405 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Boston Scientific by 15.0% during the first quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock worth $540,879,000 after buying an additional 1,027,543 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

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.