Royal Bank of Canada Raises Boston Scientific (NYSE:BSX) Price Target to $78.00

Boston Scientific (NYSE:BSX) had its price objective hoisted by Royal Bank of Canada from $70.00 to $78.00 in a report issued on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical equipment provider’s stock.

A number of other equities research analysts have also recently issued reports on the company. Oppenheimer boosted their price objective on Boston Scientific from $58.00 to $68.00 and gave the stock a market perform rating in a report on Thursday, February 1st. Raymond James lifted their price target on shares of Boston Scientific from $67.00 to $73.00 and gave the company a strong-buy rating in a research report on Thursday, February 1st. Needham & Company LLC lifted their price target on shares of Boston Scientific from $60.00 to $71.00 and gave the company a buy rating in a research report on Thursday, February 1st. BTIG Research reiterated a buy rating and issued a $64.00 price target on shares of Boston Scientific in a research report on Friday, December 29th. Finally, Evercore ISI lifted their price target on shares of Boston Scientific from $68.00 to $72.00 and gave the company an outperform rating in a research report on Thursday, April 4th. Two investment 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 stock has a consensus rating of Moderate Buy and an average price target of $68.50.

Boston Scientific Trading Down 0.2 %

Shares of NYSE:BSX opened at $67.96 on Monday. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $69.21. The stock has a market cap of $99.70 billion, a PE ratio of 63.51, a P/E/G ratio of 2.36 and a beta of 0.78. The business has a 50 day moving average of $67.17 and a 200-day moving average of $59.68. 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 (NYSE:BSX) last issued its quarterly earnings data 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. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, equities research analysts forecast that Boston Scientific will post 2.25 earnings per share for the current year.

Insider Transactions at Boston Scientific

In related news, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,979 shares of company stock worth $3,418,529. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of institutional investors have recently bought and sold shares of BSX. Moneta Group Investment Advisors LLC boosted its position in Boston Scientific by 112,306.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,661,660 shares of the medical equipment provider’s stock valued at $863,475,000 after acquiring an additional 18,645,058 shares during the last quarter. Norges Bank acquired a new stake in shares of Boston Scientific in the 4th quarter valued at about $930,626,000. FMR LLC grew its stake 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 buying an additional 8,045,263 shares during the period. Putnam Investments LLC grew its stake 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 buying an additional 6,859,280 shares during the period. Finally, Capital World Investors grew its stake 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 buying an additional 6,617,360 shares during the period. 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.