Boston Scientific (NYSE:BSX) Price Target Increased to $98.00 by Analysts at Citigroup

by · The Markets Daily

Boston Scientific (NYSE:BSX – Free Report) had its target price hoisted by Citigroup from $92.00 to $98.00 in a report issued on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the medical equipment provider’s stock.

BSX has been the topic of several other reports. Mizuho increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday. TD Cowen increased their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Stifel Nicolaus boosted their target price on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Raymond James increased their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Barclays boosted their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Check Out Our Latest Stock Report on BSX

Boston Scientific Trading Down 1.4 %

BSX traded down $1.19 during trading on Thursday, reaching $83.91. 1,199,659 shares of the stock traded hands, compared to its average volume of 6,021,670. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average is $83.19 and its 200 day moving average is $77.57. Boston Scientific has a 12 month low of $49.15 and a 12 month high of $88.79. The stock has a market capitalization of $123.10 billion, a PE ratio of 71.52, a P/E/G ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX – Get Free Report) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 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 $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. Equities analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were 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 in the company, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

Several hedge funds have recently made changes to their positions in the company. MONECO Advisors LLC grew its stake in shares of Boston Scientific by 7.6% during the 3rd quarter. MONECO Advisors LLC now owns 3,861 shares of the medical equipment provider’s stock worth $324,000 after acquiring an additional 272 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Boston Scientific by 1.3% during the third quarter. Nisa Investment Advisors LLC now owns 377,826 shares of the medical equipment provider’s stock valued at $31,662,000 after purchasing an additional 4,959 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in Boston Scientific by 11.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 13,718 shares of the medical equipment provider’s stock worth $1,150,000 after purchasing an additional 1,445 shares during the period. Cavalier Investments LLC increased its stake in shares of Boston Scientific by 6.7% in the third quarter. Cavalier Investments LLC now owns 71,841 shares of the medical equipment provider’s stock worth $6,020,000 after purchasing an additional 4,485 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Boston Scientific by 1.7% in the third quarter. State of Alaska Department of Revenue now owns 178,166 shares of the medical equipment provider’s stock valued at $14,929,000 after purchasing an additional 2,955 shares during the period. 89.07% of the stock is currently owned by institutional investors.

About Boston Scientific

(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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