Stifel Nicolaus Raises Boston Scientific (NYSE:BSX) Price Target to $100.00

Boston Scientific (NYSE:BSX) had its target price increased by stock analysts at Stifel Nicolaus from $85.00 to $100.00 in a research note issued on Friday, MarketBeat reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 13.55% from the company’s current price.

Other research analysts have also issued reports about the company. Truist Financial raised their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Morgan Stanley boosted their target price on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada lifted their price objective on Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. TD Cowen raised their target price on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, BTIG Research increased their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $89.10.

Boston Scientific Price Performance

NYSE:BSX opened at $88.07 on Friday. The stock has a 50 day moving average price of $82.49 and a 200 day moving average price of $77.16. The stock has a market cap of $129.21 billion, a PE ratio of 74.01, a P/E/G ratio of 2.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. Boston Scientific has a one year low of $49.15 and a one year high of $88.71.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the company earned $0.53 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts expect that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock worth $26,714,298 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors have recently added to or reduced their stakes in the company. 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 purchasing an additional 309 shares during the period. First Foundation Advisors acquired a new stake in Boston Scientific during the 1st quarter valued at $25,000. Triad Wealth Partners LLC acquired a new position in Boston Scientific in the 2nd quarter worth $26,000. Andra AP fonden purchased a new position in Boston Scientific in the 2nd quarter valued at about $29,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Boston Scientific during the first quarter worth about $30,000. 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.