Boston Scientific (NYSE:BSX) Price Target Raised to $85.00 at Citigroup

Boston Scientific (NYSE:BSX) had its price target upped by Citigroup from $79.00 to $85.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

A number of other research analysts also recently weighed in on BSX. Evercore ISI lifted their price target on Boston Scientific from $72.00 to $78.00 and gave the company an outperform rating in a report on Thursday. UBS Group boosted their target price on Boston Scientific from $74.00 to $90.00 and gave the company a buy rating in a research note on Thursday. StockNews.com downgraded Boston Scientific from a buy rating to a hold rating in a research note on Saturday, March 16th. Mizuho boosted their target price on Boston Scientific from $80.00 to $85.00 and gave the company a buy rating in a research note on Thursday. Finally, BTIG Research restated a buy rating and issued a $64.00 target price on shares of Boston Scientific in a research note on Friday, December 29th. Three 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’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $74.27.

Boston Scientific Price Performance

Shares of BSX traded down $0.02 during midday trading on Thursday, reaching $73.24. The stock had a trading volume of 351,068 shares, compared to its average volume of 6,485,329. The firm’s 50 day moving average price is $67.68 and its 200-day moving average price is $60.37. The company has a market capitalization of $107.45 billion, a P/E ratio of 61.60, a P/E/G ratio of 2.48 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $74.39.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping 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 16.63% and a net margin of 12.06%. During the same period in the previous year, the firm earned $0.45 earnings per share. On average, analysts forecast that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now 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. In the last ninety days, insiders sold 50,979 shares of company stock valued at $3,418,529. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors and hedge funds have recently made changes to their positions in BSX. Bruce G. Allen Investments LLC bought a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $28,000. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific in the first quarter valued at approximately $31,000. Sachetta LLC bought a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $32,000. Frazier Financial Advisors LLC bought a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $32,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Boston Scientific by 53.0% in the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds 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.