Boston Scientific (NYSE:BSX) Price Target Raised to $100.00

Boston Scientific (NYSE:BSX) had its price target raised by Wells Fargo & Company from $98.00 to $100.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an overweight rating on the medical equipment provider’s stock.

BSX has been the subject of a number of other reports. Bank of America lifted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein upped their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Mizuho raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $94.43.

Boston Scientific Trading Down 0.3 %

Boston Scientific stock opened at $90.12 on Wednesday. Boston Scientific has a 12 month low of $54.95 and a 12 month high of $91.93. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The stock has a market cap of $132.81 billion, a P/E ratio of 74.73, a P/E/G ratio of 2.67 and a beta of 0.80. The company’s fifty day simple moving average is $87.87 and its 200-day simple moving average is $81.67.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Boston Scientific will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on 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 approximately $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the sale, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. This represents a 19.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 328,157 shares of company stock valued at $27,957,676 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently modified their holdings of BSX. Diversified Trust Co raised its position in shares of Boston Scientific by 13.4% during the 2nd quarter. Diversified Trust Co now owns 5,627 shares of the medical equipment provider’s stock valued at $433,000 after acquiring an additional 666 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Boston Scientific by 7.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 71,068 shares of the medical equipment provider’s stock valued at $5,473,000 after buying an additional 5,044 shares during the period. ORG Partners LLC boosted its holdings in Boston Scientific by 6,094.7% during the second quarter. ORG Partners LLC now owns 1,177 shares of the medical equipment provider’s stock worth $90,000 after buying an additional 1,158 shares during the last quarter. AdvisorNet Financial Inc grew its position in shares of Boston Scientific by 6.3% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,786 shares of the medical equipment provider’s stock worth $292,000 after buying an additional 223 shares during the period. Finally, Welch Group LLC bought a new stake in shares of Boston Scientific in the 2nd quarter valued at about $205,000. 89.07% of the stock is 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.