Boston Scientific (NYSE:BSX) Price Target Raised to $115.00 at Piper Sandler

Boston Scientific (NYSE:BSX) had its price target lifted by Piper Sandler from $95.00 to $115.00 in a research report sent to investors on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the medical equipment provider’s stock.

A number of other analysts have also recently weighed in on BSX. JPMorgan Chase & Co. increased their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Morgan Stanley raised their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Wells Fargo & Company boosted their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Royal Bank of Canada increased their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, BTIG Research boosted their target price 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. One analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $100.39.

Boston Scientific Stock Performance

Shares of BSX opened at $104.95 on Monday. The stock has a market capitalization of $154.68 billion, a PE ratio of 86.73, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. The business’s fifty day moving average price is $94.01 and its 200 day moving average price is $86.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific has a 12-month low of $64.08 and a 12-month high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Equities research analysts forecast that Boston Scientific will post 2.46 EPS for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,302 shares of company stock worth $4,464,725. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BSX. SRS Capital Advisors Inc. lifted its position in shares of Boston Scientific by 168.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,801 shares of the medical equipment provider’s stock valued at $161,000 after acquiring an additional 1,130 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Boston Scientific by 24.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 18,733 shares of the medical equipment provider’s stock worth $1,680,000 after purchasing an additional 3,710 shares in the last quarter. BlueStem Wealth Partners LLC acquired a new stake in Boston Scientific during the 4th quarter valued at $1,487,000. John G Ullman & Associates Inc. acquired a new stake in shares of Boston Scientific in the fourth quarter worth $214,000. Finally, Richard W. Paul & Associates LLC boosted its position in shares of Boston Scientific by 16.8% in the fourth quarter. Richard W. Paul & Associates LLC now owns 4,339 shares of the medical equipment provider’s stock worth $388,000 after buying an additional 624 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.