Boston Scientific (NYSE:BSX) Reaches New 12-Month High - What's Next?

Boston Scientific Co. (NYSE:BSX - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $89.35 and last traded at $88.75, with a volume of 461073 shares changing hands. The stock had previously closed at $86.99.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BSX shares. Sanford C. Bernstein increased their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Evercore ISI increased their target price on Boston Scientific from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Citigroup increased their target price on Boston Scientific from $92.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Morgan Stanley increased their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus increased their target price on Boston Scientific from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Four equities 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $93.39.

Boston Scientific Stock Up 4.0 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a market capitalization of $133.31 billion, a P/E ratio of 75.05, a PEG ratio of 2.56 and a beta of 0.79. The stock has a 50 day moving average price of $85.26 and a 200-day moving average price of $79.59.

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

Insiders Place Their Bets

In other news, CEO Michael F. Mahoney sold 162,777 shares of the company's stock in a transaction that occurred on Monday, October 7th. The shares were 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 in the company, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the transaction, the executive vice president now owns 34,748 shares of the company's stock, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock worth $26,196,718 over the last three months. Company insiders own 0.50% of the company's stock.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently bought and sold shares of the business. BDF Gestion bought a new position in Boston Scientific during the second quarter valued at approximately $3,570,000. LRI Investments LLC purchased a new stake in Boston Scientific in the first quarter worth approximately $139,000. Cetera Advisor Networks LLC boosted its holdings in Boston Scientific by 11.8% in the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider's stock worth $13,796,000 after purchasing an additional 21,252 shares during the last quarter. Brookstone Capital Management boosted its holdings in Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider's stock worth $5,414,000 after purchasing an additional 55,645 shares during the last quarter. Finally, HWG Holdings LP purchased a new stake in Boston Scientific in the second quarter worth approximately $482,000. 89.07% of the stock is currently owned by institutional investors.

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.