Wells Fargo & Company Forecasts Strong Price Appreciation for Boston Scientific (NYSE:BSX) Stock

Boston Scientific (NYSE:BSX) had its price objective raised by investment analysts at Wells Fargo & Company from $124.00 to $125.00 in a report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 23.66% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Oppenheimer upgraded shares of Boston Scientific from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $118.00 to $125.00 in a research report on Monday, September 8th. BTIG Research reiterated a “buy” rating and issued a $132.00 price objective on shares of Boston Scientific in a research note on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $125.00 price objective on shares of Boston Scientific in a research note on Monday, September 29th. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Finally, Barclays lifted their price objective on shares of Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $123.77.

Boston Scientific Stock Down 1.3%

Shares of NYSE BSX opened at $101.08 on Thursday. The company has a market capitalization of $149.78 billion, a P/E ratio of 54.06, a price-to-earnings-growth ratio of 2.37 and a beta of 0.61. Boston Scientific has a 52-week low of $80.64 and a 52-week high of $109.50. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. The company’s 50 day moving average price is $101.14 and its 200-day moving average price is $102.00.

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

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yoshiaki Fujimori sold 2,901 shares of Boston Scientific stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total transaction of $310,377.99. Following the transaction, the director directly owned 2,081 shares in the company, valued at $222,646.19. This represents a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 170,214 shares of company stock worth $17,548,337. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Hedge funds have recently bought and sold shares of the company. FWL Investment Management LLC purchased a new position in Boston Scientific during the 2nd quarter worth $26,000. Sound Income Strategies LLC boosted its holdings in Boston Scientific by 90.9% during the 2nd quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Steph & Co. purchased a new position in Boston Scientific during the 3rd quarter worth $25,000. 1248 Management LLC purchased a new position in Boston Scientific during the 1st quarter worth $26,000. Finally, Financial Consulate Inc. purchased a new position in Boston Scientific during the 3rd quarter worth $25,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.