Boston Scientific (NYSE:BSX) Given New $116.00 Price Target at Royal Bank of Canada

Boston Scientific (NYSE:BSX) had its target price hoisted by analysts at Royal Bank of Canada from $105.00 to $116.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 10.13% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler raised their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Friday, January 10th. Raymond James raised their price objective on Boston Scientific from $101.00 to $119.00 and gave the company a “strong-buy” rating in a research report on Friday, January 31st. Wells Fargo & Company raised their price objective on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Stifel Nicolaus increased their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $106.00.

Boston Scientific Price Performance

BSX stock opened at $105.33 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company’s fifty day moving average price is $94.58 and its 200-day moving average price is $86.96. Boston Scientific has a one year low of $64.39 and a one year high of $107.17. The company has a market capitalization of $155.24 billion, a PE ratio of 87.05, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. On average, equities analysts anticipate that Boston Scientific will post 2.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,302 shares of company stock valued at $4,464,725 over the last 90 days. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Institutional investors and hedge funds have recently modified their holdings of the stock. TFC Financial Management Inc. increased its holdings in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares during the period. Values First Advisors Inc. purchased a new position in Boston Scientific during the third quarter valued at approximately $28,000. Dunhill Financial LLC increased its holdings in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 152 shares during the period. Global Wealth Strategies & Associates increased its holdings in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 250 shares during the period. Finally, West Oak Capital LLC purchased a new position in Boston Scientific during the fourth quarter valued at approximately $29,000. Institutional investors own 89.07% of the company’s stock.

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.