Canaccord Genuity Group Reiterates Buy Rating for Boston Scientific (NYSE:BSX)

Boston Scientific (NYSE:BSX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity Group in a research note issued on Thursday,Benzinga reports. They presently have a $132.00 price target on the medical equipment provider’s stock. Canaccord Genuity Group’s price target points to a potential upside of 30.59% from the company’s current price.

BSX has been the subject of several other reports. Truist Financial raised their price objective on Boston Scientific from $125.00 to $129.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Morgan Stanley raised their price objective on Boston Scientific from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday. Raymond James Financial raised their price objective on Boston Scientific from $121.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 24th. Finally, UBS Group raised their price objective on Boston Scientific from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and an average price target of $123.77.

Boston Scientific Stock Performance

NYSE:BSX opened at $101.08 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. Boston Scientific has a 12-month low of $80.64 and a 12-month high of $109.50. The stock has a 50-day moving average price of $101.14 and a 200 day moving average price of $102.00. The stock has a market capitalization of $149.78 billion, a P/E ratio of 54.06, a P/E/G ratio of 2.37 and a beta of 0.61.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. Boston Scientific had a return on equity of 19.74% and a net margin of 14.43%.The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue was up 20.3% on a year-over-year basis. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. Equities research analysts forecast that Boston Scientific will post 2.85 EPS for the current fiscal year.

Insider Activity

In other news, Director Yoshiaki Fujimori sold 2,901 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total value of $310,377.99. Following the completion of the transaction, the director owned 2,081 shares of the company’s stock, valued at $222,646.19. The trade was a 58.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $104.63, for a total value of $1,811,459.19. Following the completion of the transaction, the executive vice president directly owned 23,600 shares of the company’s stock, valued at $2,469,268. The trade was a 42.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 170,214 shares of company stock valued at $17,548,337 in the last quarter. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Boston Scientific in the second quarter valued at $2,089,937,000. Edgewood Management LLC acquired a new position in Boston Scientific in the 2nd quarter valued at about $746,655,000. Parnassus Investments LLC increased its position in Boston Scientific by 42,978.9% in the 3rd quarter. Parnassus Investments LLC now owns 6,884,440 shares of the medical equipment provider’s stock valued at $672,128,000 after acquiring an additional 6,868,459 shares during the period. Bessemer Group Inc. increased its position in Boston Scientific by 14,391.8% in the 2nd quarter. Bessemer Group Inc. now owns 2,919,801 shares of the medical equipment provider’s stock valued at $313,618,000 after acquiring an additional 2,899,653 shares during the period. Finally, Vanguard Group Inc. increased its position in Boston Scientific by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 137,134,110 shares of the medical equipment provider’s stock valued at $14,729,575,000 after acquiring an additional 2,545,381 shares during the period. Institutional investors and hedge funds 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.