Raymond James Raises Boston Scientific (NYSE:BSX) Price Target to $85.00

Boston Scientific (NYSE:BSX) had its price objective raised by equities research analysts at Raymond James from $73.00 to $85.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the medical equipment provider’s stock. Raymond James’ price objective would indicate a potential upside of 16.33% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 16th. Argus increased their price objective on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Needham & Company LLC increased their price objective on Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho raised their price target on Boston Scientific from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Finally, TD Cowen raised their price target on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.73.

Boston Scientific Trading Up 0.2 %

Shares of BSX traded up $0.16 during mid-day trading on Thursday, hitting $73.07. 2,738,805 shares of the company’s stock traded hands, compared to its average volume of 6,490,728. 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 has a 1 year low of $48.35 and a 1 year high of $74.39. The firm has a market capitalization of $107.20 billion, a P/E ratio of 68.40, a PEG ratio of 2.42 and a beta of 0.78. The business’s 50-day moving average price is $67.53 and its 200-day moving average price is $60.28.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the firm earned $0.45 earnings per share. As a group, sell-side analysts forecast that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insiders Place Their Bets

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 stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now directly 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 Securities & Exchange Commission, which is available at the SEC website. In other news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now directly owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,979 shares of company stock valued at $3,418,529. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific during the 4th quarter valued at approximately $28,000. Northwest Investment Counselors LLC bought a new stake in Boston Scientific during the 1st quarter valued at approximately $31,000. Sachetta LLC bought a new stake in Boston Scientific during the 4th quarter valued at approximately $32,000. Frazier Financial Advisors LLC bought a new stake in Boston Scientific during the 4th quarter valued at approximately $32,000. Finally, Jones Financial Companies Lllp raised its stake in Boston Scientific by 53.0% during the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 193 shares during the period. 89.07% of the stock is owned by hedge funds and other 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.