Boston Scientific (NYSE:BSX) PT Raised to $82.00 at Wells Fargo & Company

Boston Scientific (NYSE:BSX) had its target price boosted by Wells Fargo & Company from $72.00 to $82.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the medical equipment provider’s stock.

A number of other research firms also recently issued reports on BSX. BTIG Research reissued a buy rating and issued a $64.00 price objective on shares of Boston Scientific in a report on Friday, December 29th. Royal Bank of Canada boosted their price objective on Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Oppenheimer lifted their price target on Boston Scientific from $58.00 to $68.00 and gave the stock a market perform rating in a report on Thursday, February 1st. TD Cowen boosted their price target on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a research note on Thursday, March 7th. Finally, StockNews.com downgraded shares of Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $74.27.

Boston Scientific Stock Performance

BSX traded down $0.02 on Thursday, reaching $73.24. The company had a trading volume of 351,068 shares, compared to its average volume of 6,485,329. Boston Scientific has a 1 year low of $48.35 and a 1 year 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. The stock has a 50-day moving average price of $67.68 and a 200-day moving average price of $60.37. The stock has a market capitalization of $107.45 billion, a PE ratio of 61.60, a P/E/G ratio of 2.48 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released 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. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, research analysts forecast that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of the 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 transaction, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

Several hedge funds and other institutional investors have recently bought and sold shares of BSX. Victory Capital Management Inc. grew its holdings in Boston Scientific by 5.6% during the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after buying an additional 27,620 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Boston Scientific during the 4th quarter valued at about $5,116,000. Glenmede Trust Co. NA increased its holdings in shares of Boston Scientific by 12.1% in the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after purchasing an additional 1,123 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Boston Scientific by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock valued at $98,683,000 after purchasing an additional 38,249 shares during the period. Finally, HealthInvest Partners AB acquired a new position in Boston Scientific during the 4th quarter worth approximately $3,746,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.