Boston Scientific (NYSE:BSX) Price Target Increased to $81.00 by Analysts at Evercore ISI

Boston Scientific (NYSE:BSX) had its price objective upped by Evercore ISI from $78.00 to $81.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

BSX has been the topic of several other reports. The Goldman Sachs Group initiated coverage on Boston Scientific in a research note on Thursday, May 30th. They issued a buy rating and a $90.00 price objective on the stock. Raymond James boosted their price target on Boston Scientific from $73.00 to $85.00 and gave the stock a strong-buy rating in a research report on Thursday, April 25th. Mizuho boosted their price target on Boston Scientific from $85.00 to $90.00 and gave the stock a buy rating in a research report on Wednesday, May 15th. Barclays boosted their price target on Boston Scientific from $70.00 to $78.00 and gave the stock an overweight rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company boosted their price target on Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $77.41.

Boston Scientific Stock Performance

NYSE BSX opened at $76.55 on Tuesday. The firm has a market capitalization of $112.30 billion, a P/E ratio of 64.33, a P/E/G ratio of 2.65 and a beta of 0.78. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $77.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The business’s 50-day simple moving average is $75.01 and its 200-day simple moving average is $67.81.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. Equities analysts predict that Boston Scientific will post 2.32 EPS for the current year.

Insider Activity

In other news, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares in the company, valued at approximately $1,521,641.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares in the company, valued at approximately $1,521,641.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,620,617. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,259 shares of company stock worth $5,344,014. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System acquired a new position in Boston Scientific during the 4th quarter worth $5,116,000. Glenmede Trust Co. NA boosted its position in Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after acquiring an additional 1,123 shares during the period. Sierra Summit Advisors LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at $8,038,000. TD Asset Management Inc lifted its holdings in shares of Boston Scientific by 10.7% in the fourth quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock valued at $93,417,000 after buying an additional 155,565 shares during the period. Finally, HealthInvest Partners AB acquired a new stake in shares of Boston Scientific in the fourth quarter valued at $3,746,000. 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.