Needham & Company LLC Increases Boston Scientific (NYSE:BSX) Price Target to $82.00

Boston Scientific (NYSE:BSX) had its target price increased by investment analysts at Needham & Company LLC from $71.00 to $82.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 12.47% from the stock’s current price.

Other analysts have also issued reports about the stock. Argus boosted their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. increased their price target on shares of Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Oppenheimer upped their price objective on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a report on Thursday, February 1st. Evercore ISI increased their price target on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, TD Cowen increased their price target on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Boston Scientific Trading Up 5.7 %

BSX stock traded up $3.92 during mid-day trading on Wednesday, reaching $72.91. 14,206,418 shares of the stock traded hands, compared to its average volume of 6,540,234. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. Boston Scientific has a one year low of $48.35 and a one year high of $74.39. The stock has a market capitalization of $106.97 billion, a PE ratio of 68.14, a PEG ratio of 2.38 and a beta of 0.78. The business has a 50-day moving average price of $67.39 and a two-hundred day moving average price of $60.19.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same quarter in the previous year, the business posted $0.45 earnings per share. Equities research analysts expect that Boston Scientific will post 2.25 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now owns 271,542 shares in the company, valued at approximately $17,883,756.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the sale, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,979 shares of company stock worth $3,418,529. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bruce G. Allen Investments LLC acquired a new stake in shares of Boston Scientific in the 4th quarter worth $28,000. Northwest Investment Counselors LLC acquired a new stake in shares of Boston Scientific during the 1st quarter worth about $31,000. Sachetta LLC acquired a new stake in shares of Boston Scientific during the 4th quarter worth about $32,000. Frazier Financial Advisors LLC acquired a new stake in shares of Boston Scientific during the 4th quarter worth about $32,000. Finally, Jones Financial Companies Lllp increased its position in shares of Boston Scientific by 53.0% during the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 193 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

About Boston Scientific

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.