Brokerages Set Boston Scientific Co. (NYSE:BSX) Price Target at $95.96

Shares of Boston Scientific Co. (NYSE:BSX) have received a consensus rating of “Moderate Buy” from the twenty-three brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $95.96.

A number of analysts have recently issued reports on the company. Sanford C. Bernstein increased their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Cowen raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Truist Financial upped their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James raised their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. Finally, BTIG Research upped their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th.

Insider Activity

In other news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This trade represents a 93.47 % 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, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares in the company, valued at $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 328,157 shares of company stock valued at $27,957,676. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Boston Scientific

Several large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after acquiring an additional 718,515 shares during the period. Geode Capital Management LLC boosted its position in shares of Boston Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after acquiring an additional 480,729 shares in the last quarter. Legal & General Group Plc increased its stake in Boston Scientific by 2.7% in the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after acquiring an additional 360,793 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Boston Scientific by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock valued at $671,940,000 after acquiring an additional 64,720 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.3 %

Shares of NYSE BSX opened at $88.95 on Thursday. The business has a fifty day simple moving average of $88.31 and a 200-day simple moving average of $82.30. The company has a market cap of $131.10 billion, a price-to-earnings ratio of 73.51, a P/E/G ratio of 2.67 and a beta of 0.80. Boston Scientific has a 12 month low of $54.96 and a 12 month high of $91.93. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the company posted $0.50 earnings per share. Sell-side analysts predict that Boston Scientific will post 2.46 EPS for the current year.

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.