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Boston Scientific (NYSE:BSX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Boston Scientific logo with Medical background

Boston Scientific (NYSE:BSX - Get Free Report) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $100.00 to $110.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the medical equipment provider's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 21.60% from the company's previous close.

Several other research firms have also commented on BSX. Evercore ISI boosted their price target on Boston Scientific from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. TD Cowen boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday. Sanford C. Bernstein raised their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Morgan Stanley lifted their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Finally, Citigroup upped their price objective on shares of Boston Scientific from $98.00 to $107.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.52.

Read Our Latest Report on BSX

Boston Scientific Trading Up 0.4 %

Shares of Boston Scientific stock traded up $0.35 during trading hours on Monday, reaching $90.46. The stock had a trading volume of 5,541,238 shares, compared to its average volume of 5,968,779. The firm has a market capitalization of $133.32 billion, a price-to-earnings ratio of 75.02, a P/E/G ratio of 2.67 and a beta of 0.80. Boston Scientific has a 1 year low of $54.95 and a 1 year high of $91.93. 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 firm has a 50 day simple moving average of $87.98 and a two-hundred day simple moving average of $81.87.

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

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was 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 of the company's stock, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the company's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares of the company's stock, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 328,157 shares of company stock worth $27,957,676. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BSX. Dunhill Financial LLC increased its stake in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 152 shares during the period. Values First Advisors Inc. acquired a new stake in Boston Scientific in the 3rd quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Boston Scientific during the 3rd quarter valued at $30,000. Capital Performance Advisors LLP acquired a new position in Boston Scientific during the 3rd quarter worth $30,000. Finally, Andra AP fonden acquired a new position in Boston Scientific during the 2nd quarter worth $29,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Company Profile

(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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