Boston Scientific Co. (NYSE:BSX) Receives $95.96 Consensus Price Target from Brokerages

Boston Scientific Co. (NYSE:BSX) has received an average rating of “Moderate Buy” from the twenty-three research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $95.96.

A number of brokerages recently weighed in on BSX. Evercore ISI boosted their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Raymond James boosted their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Citigroup lifted their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company increased their price objective on Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Bank of America boosted their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd.

Insider Activity

In related news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 328,157 shares of company stock worth $27,957,676. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BSX. Principal Financial Group Inc. increased its position in Boston Scientific by 5.9% during the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock valued at $168,475,000 after acquiring an additional 111,724 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Boston Scientific by 36.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 15,553 shares of the medical equipment provider’s stock valued at $1,303,000 after purchasing an additional 4,136 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Boston Scientific in the 3rd quarter worth approximately $35,046,000. Synovus Financial Corp boosted its holdings in shares of Boston Scientific by 7.1% in the third quarter. Synovus Financial Corp now owns 17,518 shares of the medical equipment provider’s stock worth $1,468,000 after buying an additional 1,167 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in Boston Scientific by 8.8% during the third quarter. Tidal Investments LLC now owns 86,507 shares of the medical equipment provider’s stock valued at $7,249,000 after buying an additional 6,990 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $89.86 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $132.44 billion, a PE ratio of 74.26, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The stock’s fifty day simple moving average is $88.31 and its two-hundred day simple moving average is $82.35. Boston Scientific has a 1-year low of $55.69 and a 1-year high of $91.93.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share. As a group, analysts forecast that Boston Scientific will post 2.46 EPS for the current fiscal year.

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.