Boston Scientific (NYSE:BSX) Price Target Raised to $118.00

Boston Scientific (NYSE:BSX) had its target price hoisted by research analysts at Wells Fargo & Company from $100.00 to $118.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 12.03% from the company’s previous close.

Several other analysts also recently issued reports on BSX. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Thursday. Sanford C. Bernstein increased their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler raised their price objective on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Canaccord Genuity Group upped their target price on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Truist Financial raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Buy” and a consensus price target of $106.00.

Boston Scientific Stock Up 0.3 %

Shares of Boston Scientific stock opened at $105.33 on Thursday. Boston Scientific has a 12-month low of $64.39 and a 12-month high of $107.17. The firm has a market capitalization of $155.24 billion, a PE ratio of 87.05, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average is $94.58 and its 200-day moving average is $86.96.

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

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares in the company, valued at $87,306.06. This represents a 93.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $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. Insiders have sold a total of 47,302 shares of company stock worth $4,464,725 over the last 90 days. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of BSX. TFC Financial Management Inc. increased its holdings in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares during the period. Values First Advisors Inc. bought a new position in Boston Scientific during the third quarter valued at about $28,000. Dunhill Financial LLC raised its holdings in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. Global Wealth Strategies & Associates lifted its position in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares during the period. Finally, West Oak Capital LLC acquired a new stake in shares of Boston Scientific during the 4th quarter worth approximately $29,000. Institutional investors 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.