Boston Scientific (NYSE:BSX) Price Target Increased to $82.00 by Analysts at JPMorgan Chase & Co.

Boston Scientific (NYSE:BSX) had its target price hoisted by analysts at JPMorgan Chase & Co. from $72.00 to $82.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 11.81% from the stock’s current price.

Other equities analysts have also issued reports about the company. Royal Bank of Canada increased their price objective on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday. Needham & Company LLC increased their price objective on Boston Scientific from $71.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday. TD Cowen increased their price objective on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Evercore ISI increased their price objective on Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Robert W. Baird increased their price objective on Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $74.00.

Boston Scientific Price Performance

NYSE BSX traded up $0.43 on Thursday, reaching $73.34. 3,795,931 shares of the stock traded hands, compared to its average volume of 6,503,422. The firm’s fifty day simple moving average is $67.53 and its 200 day simple moving average is $60.28. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The company has a market cap of $107.60 billion, a price-to-earnings ratio of 68.46, a P/E/G ratio of 2.42 and a beta of 0.78. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $74.39.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same period last year, the company posted $0.45 EPS. As a group, research analysts predict that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 directly owns 41,374 shares in the company, valued at $2,690,551.22. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock valued at $3,418,529 over the last three months. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BSW Wealth Partners lifted its stake in Boston Scientific by 2.3% during the fourth quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock worth $428,000 after purchasing an additional 165 shares during the period. Allstate Corp raised its stake in shares of Boston Scientific by 2.9% in the fourth quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock valued at $343,000 after acquiring an additional 165 shares during the last quarter. First Affirmative Financial Network raised its stake in shares of Boston Scientific by 4.3% in the first quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock valued at $276,000 after acquiring an additional 166 shares during the last quarter. Valley National Advisers Inc. raised its stake in shares of Boston Scientific by 2.3% in the fourth quarter. Valley National Advisers Inc. now owns 7,526 shares of the medical equipment provider’s stock valued at $435,000 after acquiring an additional 170 shares during the last quarter. Finally, Aveo Capital Partners LLC raised its stake in shares of Boston Scientific by 1.3% in the fourth quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock valued at $742,000 after acquiring an additional 171 shares during the last quarter. 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.