Boston Scientific (NYSE:BSX) PT Raised to $73.00 at Deutsche Bank Aktiengesellschaft

Boston Scientific (NYSE:BSX) had its target price upped by equities researchers at Deutsche Bank Aktiengesellschaft from $63.00 to $73.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the medical equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential downside of 0.38% from the company’s current price.

BSX has been the subject of several other research reports. BTIG Research reissued a “buy” rating and set a $64.00 target price on shares of Boston Scientific in a research note on Friday, December 29th. Evercore ISI boosted their target price on Boston Scientific from $72.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday. Raymond James boosted their target price on Boston Scientific from $73.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, TD Cowen boosted their target price on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

Boston Scientific Stock Performance

Shares of BSX traded up $0.37 during midday trading on Thursday, reaching $73.28. 3,502,888 shares of the stock were exchanged, compared to its average volume of 6,499,269. The company has a market cap of $107.51 billion, a P/E ratio of 68.46, a PEG ratio of 2.42 and a beta of 0.78. The stock’s 50 day simple moving average is $67.53 and its 200 day simple moving average is $60.28. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, sell-side analysts expect that Boston Scientific will post 2.25 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the transaction, the chief financial officer now directly owns 271,542 shares in the company, valued at approximately $17,883,756.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now 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 worth $3,418,529 over the last ninety days. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently modified their holdings of BSX. IFP Advisors Inc raised its position in shares of Boston Scientific by 29.1% during the third quarter. IFP Advisors Inc now owns 5,026 shares of the medical equipment provider’s stock worth $265,000 after purchasing an additional 1,132 shares during the period. Private Trust Co. NA raised its position in shares of Boston Scientific by 498.8% during the third quarter. Private Trust Co. NA now owns 5,132 shares of the medical equipment provider’s stock worth $271,000 after purchasing an additional 4,275 shares during the period. Czech National Bank raised its position in shares of Boston Scientific by 50.4% during the third quarter. Czech National Bank now owns 255,916 shares of the medical equipment provider’s stock worth $13,512,000 after purchasing an additional 85,706 shares during the period. Blue Fin Capital Inc. raised its position in shares of Boston Scientific by 19.9% during the third quarter. Blue Fin Capital Inc. now owns 8,024 shares of the medical equipment provider’s stock worth $424,000 after purchasing an additional 1,334 shares during the period. Finally, WS Portfolio Advisory LLC acquired a new position in shares of Boston Scientific during the third quarter worth approximately $5,056,000. 89.07% of the stock is currently owned by institutional investors.

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.