Boston Scientific (NYSE:BSX) Price Target Increased to $78.00 by Analysts at Evercore ISI

Boston Scientific (NYSE:BSX) had its price target upped by investment analysts at Evercore ISI from $72.00 to $78.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Evercore ISI’s price objective would indicate a potential upside of 6.14% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Citigroup raised their price objective on Boston Scientific from $71.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Needham & Company LLC lifted their price target on Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday. 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. Wells Fargo & Company lifted their price target on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, BTIG Research reiterated a “buy” rating and set a $64.00 price target on shares of Boston Scientific in a report on Friday, December 29th. Two equities 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.68.

Boston Scientific Price Performance

Shares of NYSE:BSX traded up $0.58 during midday trading on Thursday, reaching $73.49. 972,724 shares of the company’s stock traded hands, compared to its average volume of 6,462,900. The company has a fifty day simple moving average of $67.53 and a two-hundred day simple moving average of $60.28. 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 company has a market cap of $107.82 billion, a P/E ratio of 68.68, a PEG ratio of 2.42 and a beta of 0.78. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $74.39.

Boston Scientific (NYSE:BSX) last announced 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. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $0.45 EPS. Equities analysts predict that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The stock was 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 of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, 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. Insiders sold a total of 50,979 shares of company stock valued at $3,418,529 in the last three months. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors have recently added to or reduced their stakes in BSX. Norges Bank purchased a new stake in Boston Scientific during the fourth quarter worth approximately $930,626,000. FMR LLC lifted its stake in Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after buying an additional 8,045,263 shares during the last quarter. Putnam Investments LLC lifted its stake in Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after buying an additional 6,859,280 shares during the last quarter. Capital World Investors lifted its stake in 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 buying an additional 6,617,360 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in 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 buying an additional 2,606,253 shares during the last quarter. Hedge funds and other institutional investors 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.