TD Cowen Increases Boston Scientific (NYSE:BSX) Price Target to $100.00

Boston Scientific (NYSE:BSX) had its target price raised by TD Cowen from $86.00 to $100.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. TD Cowen’s price objective would indicate a potential upside of 13.61% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Canaccord Genuity Group raised their price objective on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus raised their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.68.

Boston Scientific Stock Performance

NYSE:BSX opened at $88.02 on Monday. The company’s 50-day moving average price is $82.97 and its 200-day moving average price is $77.50. 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 company has a market cap of $129.13 billion, a P/E ratio of 73.97, a P/E/G ratio of 2.87 and a beta of 0.80. Boston Scientific has a twelve month low of $49.15 and a twelve month high of $88.79.

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 net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts forecast that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Boston Scientific

Institutional investors have recently modified their holdings of the stock. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $26,000. First Foundation Advisors purchased a new stake in shares of Boston Scientific during the 1st quarter worth approximately $25,000. Eagle Bay Advisors LLC lifted its position in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares during the last quarter. Andra AP fonden purchased a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $29,000. Finally, Lynx Investment Advisory purchased a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.