Boston Scientific (NYSE:BSX) PT Raised to $73.00 at Deutsche Bank Aktiengesellschaft

Boston Scientific (NYSE:BSX) had its target price upped by Deutsche Bank Aktiengesellschaft from $63.00 to $73.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a hold rating on the medical equipment provider’s stock.

Several other analysts have also recently weighed in on BSX. 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 research note on Thursday, February 1st. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $78.00 to $82.00 and gave the company an outperform rating in a report on Thursday. Citigroup boosted their target price on shares of Boston Scientific from $71.00 to $79.00 and gave the company a buy rating in a report on Wednesday, April 3rd. Robert W. Baird boosted their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the company an outperform rating in a report on Thursday. Finally, UBS Group boosted their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the company a buy rating in a report on Thursday. Three investment 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. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $74.27.

Boston Scientific Price Performance

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

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

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the transaction, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were 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 directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the transaction, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BSX. Bruce G. Allen Investments LLC purchased a new stake in shares of Boston Scientific during the 4th quarter valued at approximately $28,000. Northwest Investment Counselors LLC purchased a new stake in shares of Boston Scientific during the 1st quarter valued at approximately $31,000. Sachetta LLC purchased a new stake in shares of Boston Scientific during the 4th quarter valued at approximately $32,000. Frazier Financial Advisors LLC purchased a new stake in shares of Boston Scientific during the 4th quarter valued at approximately $32,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Boston Scientific by 53.0% during the 4th 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 in the last quarter. 89.07% of the stock is 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.