Brokerages Set Boston Scientific Co. (NYSE:BSX) Price Target at $68.14

Boston Scientific Co. (NYSE:BSX) has earned a consensus rating of “Buy” from the twenty ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $68.50.

BSX has been the subject of a number of analyst reports. Royal Bank of Canada increased their price target on Boston Scientific from $70.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Wells Fargo & Company increased their price target on Boston Scientific from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. TD Cowen increased their price target on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and increased their price target for the stock from $65.00 to $80.00 in a research note on Thursday, February 1st.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the sale, the director now owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,979 shares of company stock worth $3,418,529. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Institutional investors have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in Boston Scientific in the first quarter worth about $31,000. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific in the fourth quarter worth about $28,000. Frazier Financial Advisors LLC bought a new stake in Boston Scientific in the fourth quarter worth about $32,000. Sachetta LLC bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $32,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Boston Scientific by 53.0% during the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 193 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $67.33 on Friday. Boston Scientific has a one year low of $48.35 and a one year high of $69.21. The stock’s fifty day moving average is $67.25 and its 200 day moving average is $59.84. The stock has a market cap of $98.78 billion, a P/E ratio of 62.93, a P/E/G ratio of 2.38 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the firm earned $0.45 EPS. Sell-side analysts anticipate that Boston Scientific will post 2.25 earnings per share for the current year.

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.