Boston Scientific (NYSE:BSX) Price Target Increased to $82.00 by Analysts at Royal Bank of Canada

Boston Scientific (NYSE:BSX) had its price objective boosted by Royal Bank of Canada from $78.00 to $82.00 in a research report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

BSX has been the topic of a number of other reports. TD Cowen boosted their price target on Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a research report on Thursday, March 7th. Raymond James boosted their price target on Boston Scientific from $73.00 to $85.00 and gave the stock a strong-buy rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $60.00 to $72.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. Wells Fargo & Company boosted their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a report on Thursday. Finally, Argus boosted their price objective on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $74.27.

Boston Scientific Stock Down 0.0 %

Boston Scientific stock traded down $0.02 during trading hours on Thursday, hitting $73.24. 351,068 shares of the stock traded hands, compared to its average volume of 6,485,329. The firm’s 50-day moving average price is $67.68 and its two-hundred day moving average price is $60.37. 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 company has a market cap of $107.45 billion, a PE ratio of 61.60, a PEG ratio of 2.48 and a beta of 0.78. Boston Scientific has a one year low of $48.35 and a one year 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 the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the firm posted $0.45 EPS. On average, 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 stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock worth $3,418,529 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BSX. Norges Bank bought a new position in shares of Boston Scientific in the 4th quarter valued at about $930,626,000. FMR LLC lifted its holdings in shares of Boston Scientific by 6.8% in 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 lifted its holdings in shares of Boston Scientific by 110.5% in the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after acquiring an additional 6,859,280 shares during the last quarter. Capital World Investors lifted its holdings in shares of Boston Scientific by 236.1% in the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after acquiring an additional 6,617,360 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Boston Scientific by 391.6% in the 3rd quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock valued at $172,752,000 after acquiring an additional 2,606,253 shares during the last quarter. 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.