Sanford C. Bernstein Boosts Boston Scientific (NYSE:BSX) Price Target to $100.00

by · The Cerbat Gem

Boston Scientific (NYSE:BSX – Get Free Report) had its target price lifted by Sanford C. Bernstein from $92.00 to $100.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 16.71% from the company’s previous close.

BSX has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays upped their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Bank of America upped their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Canaccord Genuity Group upped their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $93.39.

Check Out Our Latest Research Report on BSX

Boston Scientific Stock Performance

BSX stock traded down $1.77 during midday trading on Thursday, reaching $85.68. 5,886,792 shares of the company’s stock traded hands, compared to its average volume of 6,020,992. The company has a 50-day moving average price of $83.19 and a two-hundred day moving average price of $77.57. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. Boston Scientific has a 52 week low of $49.15 and a 52 week high of $88.79. The firm has a market capitalization of $125.70 billion, a PE ratio of 72.18, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 EPS. As a group, equities analysts anticipate that Boston Scientific will post 2.4 EPS for the current year.

Insider Activity

In other news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 316,253 shares of company stock valued at $26,714,298. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently bought and sold shares of BSX. Eagle Bay Advisors LLC grew its holdings in 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 purchasing an additional 309 shares during the period. First Foundation Advisors purchased a new stake in shares of Boston Scientific during the first quarter valued at approximately $25,000. Triad Wealth Partners LLC purchased a new stake in Boston Scientific in the second quarter worth approximately $26,000. Values First Advisors Inc. purchased a new stake in Boston Scientific in the third quarter worth approximately $28,000. Finally, Andra AP fonden purchased a new stake in Boston Scientific in the second quarter worth approximately $29,000. Hedge funds and other 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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