Boston Scientific (NYSE:BSX) Price Target Raised to $95.00 at Royal Bank of Canada

Boston Scientific (NYSE:BSX) had its price objective increased by Royal Bank of Canada from $85.00 to $95.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 10.68% from the company’s current price.

Other analysts also recently issued reports about the company. Morgan Stanley raised their target price on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Barclays increased their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Canaccord Genuity Group raised their target price on shares of Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird boosted their price target on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.60.

Boston Scientific Price Performance

Shares of NYSE:BSX traded up $1.42 during trading on Tuesday, reaching $85.83. The company had a trading volume of 3,208,631 shares, compared to its average volume of 5,963,027. The company has a fifty day moving average of $80.25 and a two-hundred day moving average of $76.03. The stock has a market capitalization of $125.92 billion, a P/E ratio of 72.15, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $85.91. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts forecast that Boston Scientific will post 2.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 20,949 shares of company stock worth $1,673,685. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Several large investors have recently modified their holdings of BSX. Putnam Investments LLC raised its position in shares of Boston Scientific by 110.5% in 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 Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after buying an additional 6,588,256 shares during the last quarter. Marshall Wace LLP raised its position in Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after buying an additional 3,608,158 shares during the last quarter. Capital Research Global Investors purchased a new position in Boston Scientific in the 1st quarter worth about $182,897,000. Finally, Vanguard Group Inc. raised its position in Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after buying an additional 1,988,082 shares during the last quarter. Hedge funds and other 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.