Boston Scientific (NYSE:BSX) Hits New 12-Month High at $68.13

Shares of Boston Scientific Co. (NYSE:BSX) reached a new 52-week high on Tuesday . The company traded as high as $68.13 and last traded at $67.92, with a volume of 3002532 shares trading hands. The stock had previously closed at $67.29.

Analysts Set New Price Targets

A number of research analysts have weighed in on BSX shares. Citigroup raised their price target on Boston Scientific from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Raymond James upped their price target on shares of Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. Mizuho upgraded shares of Boston Scientific from a “neutral” rating to a “buy” rating and upped their price target for the company from $65.00 to $80.00 in a research note on Thursday, February 1st. Finally, TD Cowen increased their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.62.

Boston Scientific Stock Down 0.2 %

The company has a fifty day moving average price of $65.40 and a 200-day moving average price of $58.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The firm has a market capitalization of $100.69 billion, a PE ratio of 64.02, a PEG ratio of 2.38 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter in the prior year, the company posted $0.45 EPS. As a group, analysts expect that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 15,172 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $59.25, for a total value of $898,941.00. Following the completion of the transaction, the executive vice president now directly owns 56,588 shares in the company, valued at approximately $3,352,839. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jeffrey B. Mirviss sold 15,000 shares of Boston Scientific stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $58.40, for a total transaction of $876,000.00. Following the transaction, the executive vice president now owns 56,588 shares in the company, valued at approximately $3,304,739.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 15,172 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $59.25, for a total transaction of $898,941.00. Following the completion of the sale, the executive vice president now directly owns 56,588 shares of the company’s stock, valued at approximately $3,352,839. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,460 shares of company stock worth $4,759,945. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Several institutional investors have recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC bought a new position in Boston Scientific during the 4th quarter worth $469,000. PNC Financial Services Group Inc. lifted its holdings in Boston Scientific by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,187,692 shares of the medical equipment provider’s stock valued at $68,660,000 after acquiring an additional 66,166 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $212,000. Vanguard Group Inc. grew its position in Boston Scientific by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock worth $7,252,253,000 after buying an additional 1,681,454 shares during the last quarter. Finally, Wahed Invest LLC lifted its position in shares of Boston Scientific by 9.5% during the 4th quarter. Wahed Invest LLC now owns 24,608 shares of the medical equipment provider’s stock valued at $1,423,000 after acquiring an additional 2,140 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

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.