Boston Scientific (NYSE:BSX) PT Raised to $94.00

Boston Scientific (NYSE:BSX) had its price target raised by Raymond James from $91.00 to $94.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a strong-buy rating on the medical equipment provider’s stock.

BSX has been the topic of several other research reports. Needham & Company LLC boosted their target price on Boston Scientific from $82.00 to $86.00 and gave the company a buy rating in a research note on Thursday, July 25th. Truist Financial increased their target price on shares of Boston Scientific from $86.00 to $90.00 and gave the stock a buy rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a hold rating in a research note on Thursday, July 25th. Mizuho increased their price objective on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, May 15th. Finally, Morgan Stanley boosted their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an overweight rating in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $85.38.

Boston Scientific Price Performance

NYSE BSX opened at $81.60 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The stock has a market cap of $119.72 billion, a price-to-earnings ratio of 68.57, a PEG ratio of 2.71 and a beta of 0.79. The business has a 50 day simple moving average of $77.40 and a 200 day simple moving average of $73.53. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $82.47.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 20,949 shares of company stock valued at $1,627,877 over the last 90 days. Company 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 made changes to their positions in the stock. Eagle Bay Advisors LLC lifted its holdings in shares of Boston Scientific by 542.1% in 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 in the last quarter. First Foundation Advisors bought a new stake in shares of Boston Scientific during the first quarter worth about $25,000. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific in the 2nd quarter worth about $26,000. Andra AP fonden bought a new position in Boston Scientific in the 2nd quarter valued at about $29,000. Finally, RiverPark Advisors LLC acquired a new position in Boston Scientific during the 1st quarter valued at about $30,000. 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.