Boston Scientific (NYSE:BSX) Given New $122.00 Price Target at Citigroup

Boston Scientific (NYSE:BSX) had its price target raised by stock analysts at Citigroup from $107.00 to $122.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s target price suggests a potential upside of 15.83% from the stock’s current price.

BSX has been the topic of several other reports. Wells Fargo & Company boosted their target price on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Piper Sandler upped their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Truist Financial lifted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Morgan Stanley upped their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Bank of America raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Buy” and a consensus target price of $106.00.

Boston Scientific Stock Up 0.3 %

NYSE BSX opened at $105.33 on Thursday. The business has a fifty day moving average price of $94.58 and a 200 day moving average price of $86.96. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company has a market cap of $155.24 billion, a P/E ratio of 87.05, a P/E/G ratio of 2.68 and a beta of 0.80. Boston Scientific has a one year low of $64.39 and a one year high of $107.17.

Boston Scientific (NYSE:BSX) last issued its earnings results 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%. Research analysts anticipate that Boston Scientific will post 2.46 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,302 shares of company stock worth $4,464,725 in the last three months. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AustralianSuper Pty Ltd raised its position in Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after purchasing an additional 2,615,903 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Boston Scientific during the fourth quarter worth approximately $190,780,000. State Street Corp raised its holdings 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 valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after acquiring an additional 1,091,561 shares in the last quarter. Finally, Fisher Funds Management LTD purchased a new position in Boston Scientific in the fourth quarter worth approximately $94,710,000. 89.07% of the stock is currently 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.