Boston Scientific (NYSE:BSX) Price Target Increased to $73.00 by Analysts at Deutsche Bank Aktiengesellschaft

Boston Scientific (NYSE:BSX) had its target price boosted by analysts at Deutsche Bank Aktiengesellschaft from $63.00 to $73.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the medical equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential downside of 0.38% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company increased their target price on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen increased their target price on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Royal Bank of Canada increased their target price on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. raised their price objective on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Needham & Company LLC raised their price objective on Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

Boston Scientific Stock Up 0.5 %

Shares of NYSE BSX traded up $0.37 during mid-day trading on Thursday, hitting $73.28. The company had a trading volume of 3,502,888 shares, compared to its average volume of 6,499,269. The company has a market capitalization of $107.51 billion, a PE ratio of 68.46, a price-to-earnings-growth ratio of 2.42 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 1-year low of $48.35 and a 1-year high of $74.39. The business’s 50-day simple moving average is $67.53 and its 200 day simple moving average is $60.28.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm 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 15.99% and a net margin of 11.19%. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, analysts predict that Boston Scientific will post 2.25 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific 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 sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock worth $3,418,529 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of BSX. Norges Bank acquired a new stake in shares of Boston Scientific during the 4th quarter valued at approximately $930,626,000. FMR LLC raised its position in shares of Boston Scientific by 6.8% during the 3rd quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after purchasing an additional 8,045,263 shares during the last quarter. Putnam Investments LLC raised its position in shares of Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after purchasing an additional 6,859,280 shares during the last quarter. Capital World Investors raised its position in shares of Boston Scientific by 236.1% during the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after purchasing an additional 6,617,360 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Boston Scientific by 391.6% during the 3rd quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after purchasing an additional 2,606,253 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.