Boston Scientific (NYSE:BSX) Price Target Raised to $85.00 at Mizuho

Boston Scientific (NYSE:BSX) had its price objective increased by equities research analysts at Mizuho from $80.00 to $85.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Mizuho’s price objective points to a potential upside of 16.04% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Argus increased 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. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird boosted their price objective on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Raymond James lifted their target price on shares of Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a report on Thursday, February 1st. Two 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Boston Scientific Stock Up 0.5 %

Shares of NYSE BSX traded up $0.34 during trading hours on Thursday, hitting $73.25. 2,072,247 shares of the stock were exchanged, compared to its average volume of 6,479,323. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The company has a market cap of $107.47 billion, a PE ratio of 68.40, a PEG ratio of 2.42 and a beta of 0.78. The firm has a fifty day moving average price of $67.53 and a 200-day moving average price of $60.28. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $74.39.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data 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. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the previous year, the business posted $0.45 EPS. On average, sell-side analysts expect that Boston Scientific will post 2.25 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction that occurred 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 approximately $17,883,756.12. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the company’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 sale, the director now directly 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 accessible through this hyperlink. Also, 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 value of $899,779.32. Following the completion of the sale, 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. Over the last three months, insiders have sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of Boston Scientific

Large investors have recently bought and sold shares of the stock. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific in the fourth quarter valued at $28,000. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific during the first quarter worth $31,000. Sachetta LLC bought a new stake in shares of Boston Scientific during the fourth quarter worth $32,000. Frazier Financial Advisors LLC bought a new stake in shares of Boston Scientific during the fourth quarter worth $32,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Boston Scientific by 53.0% during the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 193 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

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.