Boston Scientific (NYSE:BSX) Price Target Raised to $100.00 at Wells Fargo & Company

Boston Scientific (NYSE:BSX) had its price objective raised by Wells Fargo & Company from $98.00 to $100.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical equipment provider’s stock.

BSX has been the topic of several other research reports. Canaccord Genuity Group boosted their price target on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday. Mizuho lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus increased their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Morgan Stanley raised their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada upped their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Boston Scientific Stock Performance

BSX opened at $90.54 on Wednesday. The firm’s 50-day moving average price is $87.62 and its 200-day moving average price is $81.55. The company has a market cap of $133.44 billion, a P/E ratio of 74.83, a price-to-earnings-growth ratio of 2.65 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific has a 52-week low of $54.95 and a 52-week high of $91.93.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the business posted $0.50 EPS. Boston Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities analysts anticipate that Boston Scientific will post 2.46 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares of the company’s stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 328,157 shares of company stock valued at $27,957,676. 0.50% of the stock is owned by company insiders.

Institutional Trading of Boston Scientific

Several large investors have recently bought and sold shares of the business. CRA Financial Services LLC lifted its stake in Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 119 shares during the last quarter. Adero Partners LLC lifted its position in Boston Scientific by 3.6% during the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock worth $303,000 after buying an additional 127 shares in the last quarter. Ashton Thomas Securities LLC boosted its stake in Boston Scientific by 1.3% during the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock worth $835,000 after buying an additional 129 shares during the last quarter. Finally, Jacobsen Capital Management grew its holdings in Boston Scientific by 4.9% in the 3rd quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock valued at $236,000 after buying an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.