Boston Scientific (NYSE:BSX) Price Target Raised to $100.00 at TD Cowen

by · The Markets Daily

Boston Scientific (NYSE:BSX – Get Free Report) had its price objective hoisted by equities researchers at TD Cowen from $86.00 to $100.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. TD Cowen’s price target points to a potential upside of 12.55% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Citigroup raised their price target on shares of Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price target on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Evercore ISI increased their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

View Our Latest Stock Report on Boston Scientific

Boston Scientific Trading Up 0.9 %

NYSE BSX opened at $88.85 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. Boston Scientific has a 52 week low of $49.15 and a 52 week high of $88.85. The business has a 50 day moving average price of $82.49 and a 200-day moving average price of $77.22. The company has a market cap of $130.35 billion, a price-to-earnings ratio of 74.66, a P/E/G ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the business posted $0.53 EPS. Boston Scientific’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities analysts expect that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 316,253 shares of company stock worth $26,714,298 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Boston Scientific

Institutional investors and hedge funds have recently bought and sold shares of the company. Eagle Bay Advisors LLC raised its position in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares in the last quarter. First Foundation Advisors purchased a new stake in shares of Boston Scientific in the 1st quarter valued at about $25,000. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific during the 2nd quarter valued at about $26,000. Andra AP fonden purchased a new position in shares of Boston Scientific during the second quarter worth about $29,000. Finally, RiverPark Advisors LLC purchased a new position in shares of Boston Scientific during the first quarter worth about $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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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