Barclays Increases Boston Scientific (NYSE:BSX) Price Target to $125.00

Boston Scientific (NYSE:BSX) had its target price increased by Barclays from $118.00 to $125.00 in a research report released on Friday,Benzinga reports. The firm currently has an overweight rating on the medical equipment provider’s stock.

A number of other brokerages have also issued reports on BSX. Stifel Nicolaus boosted their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley increased their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup increased their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, BTIG Research reissued a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a report on Wednesday. One analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Buy” and an average price target of $114.52.

Boston Scientific Stock Performance

Shares of BSX opened at $101.96 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific has a 1 year low of $70.97 and a 1 year high of $107.17. The firm has a fifty day moving average of $98.68 and a 200-day moving average of $94.80. The company has a market cap of $150.81 billion, a price-to-earnings ratio of 81.57, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, equities analysts anticipate that Boston Scientific will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares in the company, valued at $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares of the company’s stock, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 138,009 shares of company stock valued at $14,407,381. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mechanics Bank Trust Department acquired a new position in shares of Boston Scientific during the 4th quarter worth $415,000. Highland Capital Management LLC acquired a new position in Boston Scientific during the fourth quarter worth $4,887,000. Covenant Asset Management LLC acquired a new stake in shares of Boston Scientific in the fourth quarter worth about $3,405,000. Brookstone Capital Management boosted its stake in shares of Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after acquiring an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. increased its holdings in shares of Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after acquiring an additional 4,702 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Company Profile

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.