Citigroup Raises Boston Scientific (NYSE:BSX) Price Target to $122.00

Boston Scientific (NYSE:BSX) had its price objective hoisted by Citigroup from $107.00 to $122.00 in a research report released 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. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. TD Cowen boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a report on Friday, January 10th. Finally, Morgan Stanley boosted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Buy” and a consensus target price of $104.26.

Boston Scientific Stock Performance

NYSE BSX opened at $105.01 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $154.76 billion, a PE ratio of 86.78, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. The business’s 50-day moving average price is $94.30 and its 200 day moving average price is $86.84. Boston Scientific has a twelve month low of $64.39 and a twelve month high of $107.17.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. On average, research analysts predict that Boston Scientific will post 2.46 earnings per share for the current year.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, the executive vice president now owns 29,308 shares in the company, valued at approximately $2,660,580.24. This represents a 19.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,302 shares of company stock valued at $4,464,725 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several large investors have recently added to or reduced their stakes in BSX. Atomi Financial Group Inc. lifted its position in shares of Boston Scientific by 13.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 8,266 shares of the medical equipment provider’s stock worth $693,000 after buying an additional 997 shares during the last quarter. Brookstone Capital Management lifted its holdings in Boston Scientific by 22.3% in the third quarter. Brookstone Capital Management now owns 85,553 shares of the medical equipment provider’s stock worth $7,169,000 after acquiring an additional 15,608 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Boston Scientific in the third quarter valued at approximately $326,000. Daymark Wealth Partners LLC bought a new position in shares of Boston Scientific during the third quarter valued at approximately $281,000. Finally, Wedmont Private Capital raised its position in shares of Boston Scientific by 9.2% during the 3rd quarter. Wedmont Private Capital now owns 18,730 shares of the medical equipment provider’s stock worth $1,581,000 after purchasing an additional 1,574 shares during the period. 89.07% of the stock is currently owned by institutional investors.

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.