Boston Scientific (NYSE:BSX) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Boston Scientific (NYSE:BSX) had its price target hoisted by equities research analysts at Royal Bank of Canada from $105.00 to $116.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 10.13% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Raymond James boosted their target price on Boston Scientific from $101.00 to $119.00 and gave the company a “strong-buy” rating in a research note on Friday, January 31st. Sanford C. Bernstein boosted their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group boosted their target price on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, BTIG Research upped their price target on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $106.00.

Boston Scientific Price Performance

BSX opened at $105.33 on Thursday. The stock has a 50-day moving average price of $94.58 and a 200-day moving average price of $86.96. Boston Scientific has a 12-month low of $64.39 and a 12-month high of $107.17. 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 stock has a market capitalization of $155.24 billion, a P/E ratio of 87.05, a PEG ratio of 2.68 and a beta of 0.80.

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

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, the executive vice president now owns 29,308 shares in the company, valued at $2,660,580.24. This represents a 19.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, the executive vice president now owns 35,319 shares in the company, valued at approximately $3,179,416.38. This represents a 10.44 % 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 in the last 90 days. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently modified their holdings of the company. TFC Financial Management Inc. grew its stake in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares during the period. Global Wealth Strategies & Associates boosted its position in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares during the period. West Oak Capital LLC purchased a new stake in shares of Boston Scientific in the fourth quarter worth $29,000. Dunhill Financial LLC raised its position in shares of Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the period. Finally, Values First Advisors Inc. purchased a new position in shares of Boston Scientific during the 3rd quarter valued at $28,000. 89.07% of the stock is owned by institutional investors.

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.