Boston Scientific (NYSE:BSX) Price Target Raised to $82.00 at Needham & Company LLC

Boston Scientific (NYSE:BSX) had its price objective raised by Needham & Company LLC from $71.00 to $82.00 in a report published on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the medical equipment provider’s stock.

BSX has been the subject of several other reports. BTIG Research reaffirmed a buy rating and set a $64.00 price objective on shares of Boston Scientific in a research report on Friday, December 29th. Mizuho upgraded shares of Boston Scientific from a neutral rating to a buy rating and lifted their price objective for the company from $65.00 to $80.00 in a research note on Thursday, February 1st. TD Cowen boosted their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a report on Thursday, March 7th. Evercore ISI boosted their price objective on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an overweight rating in a report on Thursday, February 1st. Three 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. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $75.09.

Boston Scientific Stock Performance

NYSE:BSX opened at $73.13 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The stock has a market capitalization of $107.29 billion, a P/E ratio of 61.45, a PEG ratio of 2.48 and a beta of 0.78. The company has a 50 day moving average price of $67.82 and a 200 day moving average price of $60.51. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $74.39.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same quarter last year, the company posted $0.45 EPS. Equities research analysts forecast that Boston Scientific will post 2.32 EPS for the current year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction on Monday, April 1st. The shares were 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 directly owns 50,638 shares in the company, valued at $3,509,213.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s 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 approximately $17,883,756.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock valued at $3,418,529 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Boston Scientific in the fourth quarter worth $930,626,000. FMR LLC lifted its position in shares of Boston Scientific by 6.8% during the 3rd quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after acquiring an additional 8,045,263 shares during the last quarter. Putnam Investments LLC raised its holdings in Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after buying an additional 6,859,280 shares during the period. Capital World Investors lifted its holdings in shares of Boston Scientific by 236.1% in the fourth quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after purchasing an additional 6,617,360 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Boston Scientific by 391.6% in the third quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock valued at $172,752,000 after purchasing an additional 2,606,253 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

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.