Analysts Set Boston Scientific Corporation (NYSE:BSX) Target Price at $79.84

Shares of Boston Scientific Corporation (NYSE:BSX) have earned an average rating of “Moderate Buy” from the thirty analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, twenty-three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $79.84.

A number of brokerages recently issued reports on BSX. Royal Bank Of Canada dropped their price target on shares of Boston Scientific from $100.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Wolfe Research lowered shares of Boston Scientific from an “outperform” rating to a “peer perform” rating in a research note on Friday, May 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $88.00 target price (down from $97.00) on shares of Boston Scientific in a report on Monday, March 30th. Weiss Ratings downgraded shares of Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 7th. Finally, Needham & Company LLC cut their price target on shares of Boston Scientific from $77.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th.

Insider Activity at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig bought 3,580 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $56.68 per share, for a total transaction of $202,914.40. Following the purchase, the director owned 25,359 shares in the company, valued at approximately $1,437,348.12. This trade represents a 16.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David C. Habiger bought 2,250 shares of Boston Scientific stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $55.92 per share, with a total value of $125,820.00. Following the acquisition, the director owned 13,878 shares in the company, valued at approximately $776,057.76. This represents a 19.35% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 9,800 shares of company stock valued at $554,012. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Several large investors have recently bought and sold shares of BSX. FWL Investment Management LLC purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at about $26,000. Swiss RE Ltd. bought a new stake in shares of Boston Scientific in the fourth quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at approximately $26,000. Bangor Savings Bank lifted its position in Boston Scientific by 94.7% during the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 142 shares during the period. Finally, Board of the Pension Protection Fund bought a new position in Boston Scientific during the fourth quarter valued at approximately $29,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Trading Up 1.6%

Boston Scientific stock opened at $43.67 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $47.37 and its two-hundred day simple moving average is $64.20. Boston Scientific has a 12 month low of $42.20 and a 12 month high of $109.50. The company has a market capitalization of $64.90 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 0.82 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts predict that Boston Scientific will post 3.35 earnings per share for the current fiscal year.

Boston Scientific declared that its Board of Directors has authorized a share repurchase program on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.