Canaccord Genuity Group Increases Boston Scientific (NYSE:BSX) Price Target to $98.00

Boston Scientific (NYSE:BSX) had its price objective hoisted by Canaccord Genuity Group from $88.00 to $98.00 in a report published on Monday, Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

A number of other research firms have also issued reports on BSX. TD Cowen increased their price target on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. BTIG Research lifted their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Evercore ISI boosted their target price on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. raised their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Four research 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 data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $90.68.

Boston Scientific Trading Down 0.6 %

NYSE BSX opened at $87.45 on Monday. The firm’s 50 day moving average price is $83.19 and its two-hundred day moving average price is $77.57. 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 twelve month low of $49.15 and a twelve month high of $88.79. The stock has a market cap of $128.30 billion, a price-to-earnings ratio of 73.49, a PEG ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share 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 for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. Boston Scientific’s quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that Boston Scientific will post 2.4 EPS for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 316,253 shares of company stock valued at $26,714,298. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors have recently added to or reduced their stakes in BSX. Vanguard Group Inc. boosted its stake in Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after buying an additional 1,988,082 shares in the last quarter. Capital World Investors increased its position 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 in the last quarter. Legal & General Group Plc lifted its holdings in 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 valued at $1,072,195,000 after purchasing an additional 360,793 shares during the last quarter. Ameriprise Financial Inc. grew its stake 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 during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Boston Scientific by 15.0% in the first quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock valued at $540,879,000 after acquiring an additional 1,027,543 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

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.