Boston Scientific (NYSE:BSX) Price Target Raised to $110.00 at JPMorgan Chase & Co.

Boston Scientific (NYSE:BSX) had its price objective raised by JPMorgan Chase & Co. from $100.00 to $110.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the medical equipment provider’s stock.

BSX has been the topic of several other reports. BTIG Research boosted their price target on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Raymond James boosted their price target on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus boosted their price target on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Mizuho upped their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Cowen upped their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.52.

Boston Scientific Stock Performance

Shares of BSX stock opened at $90.46 on Monday. The business’s 50 day simple moving average is $88.11 and its 200 day simple moving average is $81.97. Boston Scientific has a one year low of $54.95 and a one year high of $91.93. The stock has a market capitalization of $133.32 billion, a PE ratio of 74.76, a PEG ratio of 2.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. As a group, research analysts forecast that Boston Scientific will post 2.46 earnings per share for the current 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 dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This trade represents a 16.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock valued at $27,957,676 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares during the last quarter. HWG Holdings LP bought a new stake in shares of Boston Scientific in the 2nd quarter worth approximately $482,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after buying an additional 30,636 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Boston Scientific by 153.5% in the 3rd quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock worth $16,541,000 after buying an additional 119,525 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Boston Scientific in the 3rd quarter worth approximately $567,000. 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.