Boston Scientific (NYSE:BSX) Price Target Increased to $100.00 by Analysts at Morgan Stanley

Boston Scientific (NYSE:BSX) had its price target raised by Morgan Stanley from $92.00 to $100.00 in a report released on Thursday, Benzinga reports. Morgan Stanley currently has an overweight rating on the medical equipment provider’s stock.

A number of other brokerages have also recently commented on BSX. BTIG Research lifted their price target on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus lifted their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Bank of America lifted their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Citigroup lifted their price target on Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Truist Financial lifted their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $84.73 on Thursday. The stock has a market cap of $124.31 billion, a price-to-earnings ratio of 71.20, a P/E/G ratio of 2.87 and a beta of 0.80. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific has a 1-year low of $49.15 and a 1-year high of $88.79. The stock’s 50-day moving average is $83.47 and its 200 day moving average is $77.80.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 16.59% and a net margin of 12.00%. Boston Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted $0.50 EPS. On average, sell-side analysts anticipate that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock worth $26,714,298 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Several hedge funds have recently added to or reduced their stakes in BSX. Capital World Investors boosted its holdings in Boston Scientific by 69.9% in the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after acquiring an additional 6,588,256 shares in the last quarter. Marshall Wace LLP boosted its holdings in Boston Scientific by 115.9% in the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after acquiring an additional 3,608,158 shares in the last quarter. Capital Research Global Investors bought a new stake in Boston Scientific in the first quarter worth $182,897,000. Vanguard Group Inc. boosted its holdings in Boston Scientific by 1.6% in the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after acquiring an additional 1,988,082 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after purchasing an additional 1,824,405 shares during the last quarter. 89.07% of the stock is 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.