Boston Scientific (NYSE:BSX) Given New $100.00 Price Target at Bank of America

Boston Scientific (NYSE:BSX) had its price target upped by Bank of America from $90.00 to $100.00 in a research note released on Tuesday, Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BTIG Research raised their target price on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Truist Financial lifted their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. TD Cowen increased their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Finally, Barclays boosted their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.68.

Boston Scientific Price Performance

NYSE BSX opened at $88.02 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company has a market cap of $129.13 billion, a PE ratio of 73.97, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. Boston Scientific has a 52 week low of $49.15 and a 52 week high of $88.79. The firm’s 50-day simple moving average is $82.97 and its two-hundred day simple moving average is $77.50.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the company posted $0.53 EPS. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. Research analysts predict that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction on Monday, October 7th. The shares were 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 of the company’s stock, valued at $13,639,695. 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 at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The trade was 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 90 days. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Eagle Bay Advisors LLC increased its stake in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the period. First Foundation Advisors purchased a new position in shares of Boston Scientific in the first quarter worth $25,000. Triad Wealth Partners LLC purchased a new position in shares of Boston Scientific in the second quarter worth $26,000. Andra AP fonden bought a new stake in Boston Scientific during the 2nd quarter valued at $29,000. Finally, RiverPark Advisors LLC purchased a new stake in Boston Scientific during the 1st quarter valued at $30,000. 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.