Boston Scientific (NYSE:BSX) PT Raised to $100.00

Boston Scientific (NYSE:BSX) had its price objective increased by TD Cowen from $86.00 to $100.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

A number of other research analysts have also weighed in on the company. Needham & Company LLC lowered Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Friday, October 18th. Truist Financial boosted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Royal Bank of Canada increased their target price on shares of Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Raymond James boosted their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Citigroup increased their price objective on Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

BSX opened at $85.11 on Monday. The firm has a 50-day moving average price of $83.19 and a 200-day moving average price of $77.57. Boston Scientific has a twelve month low of $49.15 and a twelve month high of $88.79. 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 capitalization of $124.86 billion, a price-to-earnings ratio of 71.52, a PEG ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities analysts expect that Boston Scientific will post 2.4 EPS for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares in the company, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 316,253 shares of company stock worth $26,714,298 in the last ninety days. 0.50% of the stock is owned by company insiders.

Institutional Trading of Boston Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific in the 2nd quarter worth about $26,000. Values First Advisors Inc. purchased a new stake in Boston Scientific in the third quarter worth about $28,000. First Foundation Advisors bought a new stake in Boston Scientific during the 1st quarter valued at approximately $25,000. Eagle Bay Advisors LLC grew its holdings in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares during the period. Finally, Andra AP fonden bought a new position in shares of Boston Scientific in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Company Profile

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.