Boston Scientific (NYSE:BSX) Stock Price Expected to Rise, Citigroup Analyst Says

Boston Scientific (NYSE:BSX) had its target price upped by stock analysts at Citigroup from $107.00 to $122.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price target points to a potential upside of 15.83% from the company’s current price.

Several other equities research analysts also recently weighed in on BSX. Wells Fargo & Company raised their target price on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. TD Cowen raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada upped their target price on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Thursday. Finally, Sanford C. Bernstein upped their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and an average price target of $106.00.

Boston Scientific Trading Up 0.3 %

BSX opened at $105.33 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The firm has a market cap of $155.24 billion, a price-to-earnings ratio of 87.05, a PEG ratio of 2.68 and a beta of 0.80. Boston Scientific has a 12 month low of $64.39 and a 12 month high of $107.17. The stock has a fifty day moving average price of $94.58 and a 200-day moving average price of $86.96.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. As a group, equities research analysts anticipate that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the transaction, the executive vice president now owns 5,502 shares in the company, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 sale, the director now owns 39,398 shares in the company, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,302 shares of company stock worth $4,464,725 over the last quarter. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC increased its position in shares of Boston Scientific by 14.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 30,271 shares of the medical equipment provider’s stock valued at $2,704,000 after buying an additional 3,879 shares in the last quarter. Wealth High Governance Capital Ltda acquired a new stake in Boston Scientific in the 4th quarter valued at $4,444,000. Fairway Wealth LLC purchased a new stake in Boston Scientific in the 4th quarter worth $36,000. Citizens Financial Group Inc. RI raised its position in Boston Scientific by 78.0% during the fourth quarter. Citizens Financial Group Inc. RI now owns 8,970 shares of the medical equipment provider’s stock worth $801,000 after acquiring an additional 3,931 shares during the period. Finally, Sage Mountain Advisors LLC lifted its holdings in Boston Scientific by 12.5% during the fourth quarter. Sage Mountain Advisors LLC now owns 7,417 shares of the medical equipment provider’s stock valued at $663,000 after purchasing an additional 822 shares in the last quarter. 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.