Boston Scientific (NYSE:BSX) Given New $90.00 Price Target at Evercore ISI

Boston Scientific (NYSE:BSX) had its price target increased by investment analysts at Evercore ISI from $82.00 to $90.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Evercore ISI’s price objective suggests a potential upside of 7.68% from the stock’s current price.

A number of other research analysts also recently weighed in on BSX. Canaccord Genuity Group lifted their price target on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price target on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $85.00 target price on shares of Boston Scientific in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $87.10.

Boston Scientific Trading Down 0.3 %

Shares of Boston Scientific stock traded down $0.22 on Tuesday, reaching $83.58. 1,595,109 shares of the company were exchanged, compared to its average volume of 5,981,626. The stock has a fifty day moving average price of $79.44 and a 200-day moving average price of $75.43. The firm has a market capitalization of $122.62 billion, a price-to-earnings ratio of 70.16, a price-to-earnings-growth ratio of 2.78 and a beta of 0.79. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $84.89.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. Boston Scientific’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts expect that Boston Scientific will post 2.4 EPS for the current year.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares in the last quarter. Capital World Investors grew its stake in shares of Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after purchasing an additional 6,588,256 shares during the period. Legal & General Group Plc grew its stake in shares of Boston Scientific by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after purchasing an additional 360,793 shares during the period. Putnam Investments LLC grew its stake in shares of Boston Scientific by 110.5% in the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after purchasing an additional 6,859,280 shares during the period. Finally, Vontobel Asset Management Inc. grew its stake in shares of Boston Scientific by 10.2% in the 4th quarter. Vontobel Asset Management Inc. now owns 10,974,569 shares of the medical equipment provider’s stock valued at $668,472,000 after purchasing an additional 1,015,140 shares during the period. Institutional investors and hedge funds 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.