Boston Scientific (NYSE:BSX) Price Target Increased to $84.00 by Analysts at Robert W. Baird

Boston Scientific (NYSE:BSX) had its price target increased by Robert W. Baird from $79.00 to $84.00 in a report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

Other research analysts also recently issued research reports about the company. Oppenheimer lifted their price target on Boston Scientific from $58.00 to $68.00 and gave the stock a market perform rating in a research note on Thursday, February 1st. Royal Bank of Canada lifted their price target on Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Mizuho raised Boston Scientific from a neutral rating to a buy rating and lifted their price target for the stock from $65.00 to $80.00 in a research note on Thursday, February 1st. Argus lifted their price target on Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Finally, Needham & Company LLC lifted their price objective on Boston Scientific from $71.00 to $82.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Three equities research 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 company’s stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of Moderate Buy and an average target price of $75.09.

Boston Scientific Stock Performance

Shares of BSX opened at $73.17 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm has a market cap of $107.35 billion, a PE ratio of 61.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The company’s 50 day simple moving average is $67.82 and its 200-day simple moving average is $60.63. Boston Scientific has a 12-month low of $48.35 and a 12-month 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, 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 firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the firm posted $0.45 EPS. As a group, equities analysts predict that Boston Scientific will post 2.32 EPS for the current year.

Insiders Place Their Bets

In other Boston Scientific 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 completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $66.35, for a total value of $463,322.05. Following the completion of the transaction, the executive vice president now owns 53,788 shares in the company, valued at approximately $3,568,833.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated 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 owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. 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. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

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