Evercore ISI Boosts Boston Scientific (NYSE:BSX) Price Target to $90.00

by · The Cerbat Gem

Boston Scientific (NYSE:BSX – Free Report) had its price objective boosted by Evercore ISI from $82.00 to $90.00 in a research note released on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the medical equipment provider’s stock.

Several other equities research analysts have also recently weighed in on BSX. Raymond James increased their price objective on Boston Scientific from $91.00 to $94.00 and gave the stock a strong-buy rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Boston Scientific from $73.00 to $78.00 and gave the stock a hold rating in a report on Thursday, July 25th. 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. Morgan Stanley raised their target price on Boston Scientific from $79.00 to $92.00 and gave the company an overweight rating in a research note on Monday, July 15th. Finally, Needham & Company LLC raised their target price on Boston Scientific from $82.00 to $86.00 and gave the company a buy rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boston Scientific currently has a consensus rating of Moderate Buy and an average price target of $87.10.

Read Our Latest Report on BSX

Boston Scientific Price Performance

BSX opened at $83.84 on Tuesday. The stock’s 50 day simple moving average is $79.88 and its 200 day simple moving average is $75.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $84.89. The firm has a market cap of $123.00 billion, a price-to-earnings ratio of 70.45, a PEG ratio of 2.78 and a beta of 0.79.

Boston Scientific (NYSE:BSX – Get Free Report) last released its quarterly earnings data 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 return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the business posted $0.53 EPS. The business’s revenue was up 14.5% on a year-over-year basis. As a group, analysts predict that Boston Scientific will post 2.4 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 20,949 shares of company stock valued at $1,673,685. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of 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 worth $8,728,221,000 after purchasing an additional 1,988,082 shares in the last quarter. Capital World Investors increased its holdings 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 worth $1,096,394,000 after purchasing an additional 6,588,256 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Boston Scientific by 2.7% in the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock worth $1,072,195,000 after acquiring an additional 360,793 shares during the period. Putnam Investments LLC grew its holdings in shares of Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after acquiring an additional 6,859,280 shares during the period. Finally, Vontobel Asset Management Inc. grew its holdings in shares of Boston Scientific by 10.2% in the fourth quarter. Vontobel Asset Management Inc. now owns 10,974,569 shares of the medical equipment provider’s stock worth $668,472,000 after acquiring an additional 1,015,140 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Company Profile

(Get Free Report)

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.

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