Boston Scientific (NYSE:BSX) Reaches New 1-Year High at $74.39

Boston Scientific Co. (NYSE:BSX) reached a new 52-week high on Wednesday . The stock traded as high as $74.39 and last traded at $73.77, with a volume of 3638035 shares. The stock had previously closed at $68.99.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BSX. JPMorgan Chase & Co. lifted their price target on Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Needham & Company LLC boosted their target price on Boston Scientific from $60.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Wells Fargo & Company upped their price objective on shares of Boston Scientific from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Finally, Oppenheimer upped their price target on shares of Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, February 1st. Two 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. According to MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $68.50.

Boston Scientific Trading Up 6.2 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The firm’s fifty day moving average is $67.39 and its 200-day moving average is $60.19. The firm has a market cap of $107.52 billion, a price-to-earnings ratio of 68.38, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter last year, the firm posted $0.45 earnings per share. Equities analysts anticipate that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently made changes to their positions in BSX. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific during the 4th quarter worth approximately $28,000. Northwest Investment Counselors LLC bought a new stake in Boston Scientific during the first quarter worth $31,000. Sachetta LLC purchased a new stake in Boston Scientific in the 4th quarter valued at $32,000. Frazier Financial Advisors LLC bought a new position in Boston Scientific during the 4th quarter valued at $32,000. Finally, Jones Financial Companies Lllp boosted its holdings in Boston Scientific by 53.0% during the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 193 shares during the last quarter. Institutional investors and hedge funds 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.