Brokerages Set Boston Scientific Co. (NYSE:BSX) Target Price at $93.39

Boston Scientific Co. (NYSE:BSX) has received a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $93.39.

Several equities research analysts recently commented on the company. Sanford C. Bernstein lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Barclays raised their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Stifel Nicolaus increased their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research report on Monday, November 18th. Finally, Morgan Stanley increased their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th.

Boston Scientific Stock Up 1.1 %

NYSE:BSX opened at $90.19 on Friday. The firm has a 50-day simple moving average of $86.26 and a two-hundred day simple moving average of $80.44. The firm has a market cap of $132.92 billion, a P/E ratio of 74.54, a P/E/G ratio of 2.65 and a beta of 0.79. Boston Scientific has a fifty-two week low of $53.93 and a fifty-two week high of $91.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. Analysts predict that Boston Scientific will post 2.46 earnings per share 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 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 $3,061,135.60. The trade was a 15.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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. The trade was a 9.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 328,157 shares of company stock valued at $27,894,270. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in shares of Boston Scientific in the 2nd quarter worth $26,000. Values First Advisors Inc. purchased a new position in Boston Scientific in the third quarter worth about $28,000. Dunhill Financial LLC increased its stake in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares during the last quarter. Andra AP fonden purchased a new stake in Boston Scientific during the second quarter valued at approximately $29,000. Finally, Lynx Investment Advisory bought a new stake in shares of Boston Scientific in the 2nd quarter valued at approximately $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.