Stifel Nicolaus Increases Boston Scientific (NYSE:BSX) Price Target to $100.00

Boston Scientific (NYSE:BSX) had its target price raised by analysts at Stifel Nicolaus from $85.00 to $100.00 in a research report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Stifel Nicolaus’ target price indicates a potential upside of 13.55% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Morgan Stanley boosted their target price on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Evercore ISI upped their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Needham & Company LLC cut shares of Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Friday. Canaccord Genuity Group boosted their target price on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Raymond James raised their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.10.

Boston Scientific Stock Up 1.9 %

Shares of NYSE BSX opened at $88.07 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average of $82.49 and a 200-day moving average of $77.16. The firm has a market capitalization of $129.21 billion, a price-to-earnings ratio of 74.01, a PEG ratio of 2.87 and a beta of 0.80. Boston Scientific has a 12 month low of $49.15 and a 12 month high of $88.71.

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

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 316,253 shares of company stock worth $26,714,298 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. NBC Securities Inc. grew its holdings in shares of Boston Scientific by 4.4% during the first quarter. NBC Securities Inc. now owns 7,367 shares of the medical equipment provider’s stock valued at $514,000 after buying an additional 311 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Boston Scientific by 16.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,985 shares of the medical equipment provider’s stock worth $273,000 after purchasing an additional 576 shares during the period. Banque Cantonale Vaudoise boosted its position in Boston Scientific by 3.5% in the first quarter. Banque Cantonale Vaudoise now owns 26,565 shares of the medical equipment provider’s stock valued at $1,819,000 after buying an additional 886 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Boston Scientific by 12.8% during the 1st quarter. Park Avenue Securities LLC now owns 12,435 shares of the medical equipment provider’s stock valued at $852,000 after acquiring an additional 1,413 shares during the period. Finally, First Affirmative Financial Network boosted its holdings in shares of Boston Scientific by 4.3% in the 1st quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock valued at $276,000 after acquiring an additional 166 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.