Boston Scientific (NYSE:BSX) Price Target Increased to $82.00 by Analysts at JPMorgan Chase & Co.

Boston Scientific (NYSE:BSX) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $72.00 to $82.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 11.81% from the stock’s current price.

Several other equities research analysts also recently commented on BSX. Mizuho upped their price objective on shares of Boston Scientific from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Argus upped their price objective on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Citigroup upped their price objective 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 upped their price objective on shares of Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Oppenheimer upped their price objective on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a report on Thursday, February 1st. Three equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.00.

Boston Scientific Stock Up 0.6 %

Shares of NYSE BSX traded up $0.43 during trading on Thursday, hitting $73.34. The stock had a trading volume of 3,795,931 shares, compared to its average volume of 6,503,422. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $74.39. 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 company has a market capitalization of $107.60 billion, a PE ratio of 68.46, a PEG ratio of 2.42 and a beta of 0.78. The firm has a fifty day moving average of $67.53 and a two-hundred day moving average of $60.28.

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

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction that occurred 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 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 can be accessed through the SEC website. In related news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s 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 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 firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the sale, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,979 shares of company stock worth $3,418,529. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of hedge funds have recently modified their holdings of the business. FMR LLC boosted its stake in Boston Scientific by 6.8% in 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 in the last quarter. Vanguard Group Inc. boosted its stake in Boston Scientific by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock worth $7,252,253,000 after purchasing an additional 1,681,454 shares in the last quarter. Wellington Management Group LLP boosted its stake in Boston Scientific by 5.9% in the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after purchasing an additional 2,336,348 shares in the last quarter. Primecap Management Co. CA boosted its stake in Boston Scientific by 1.5% in the 4th quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after purchasing an additional 550,490 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Boston Scientific by 2.3% in the 3rd quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock worth $1,119,378,000 after purchasing an additional 481,891 shares in the last quarter. 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.