Boston Scientific (NYSE:BSX) Given New $78.00 Price Target at Barclays

Boston Scientific (NYSE:BSX) had its price objective lifted by Barclays from $70.00 to $78.00 in a report published on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the medical equipment provider’s stock.

A number of other research firms have also weighed in on BSX. Citigroup increased their price objective on Boston Scientific from $79.00 to $85.00 and gave the company a buy rating in a research note on Thursday. Mizuho raised their price target on Boston Scientific from $80.00 to $85.00 and gave the stock a buy rating in a research note on Thursday. Royal Bank of Canada raised their price target on Boston Scientific from $78.00 to $82.00 and gave the stock an outperform rating in a research note on Thursday. Raymond James raised their price target on Boston Scientific from $73.00 to $85.00 and gave the stock a strong-buy rating in a research note on Thursday. Finally, Robert W. Baird raised their price target on Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a research note on Thursday. Three 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $75.09.

Boston Scientific Stock Performance

NYSE:BSX opened at $73.13 on Friday. The firm has a market cap of $107.29 billion, a PE ratio of 61.45, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $74.39. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The business has a 50 day moving average price of $67.82 and a 200-day moving average price of $60.51.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.63% and a net margin of 12.06%. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Equities research analysts predict that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’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 sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock worth $3,418,529 in the last three months. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bruce G. Allen Investments LLC bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $28,000. Northwest Investment Counselors LLC bought a new position in shares of Boston Scientific during the 1st quarter valued at approximately $31,000. Sachetta LLC bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $32,000. Frazier Financial Advisors LLC bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $32,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Boston Scientific by 53.0% during the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 193 shares during the period. 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.