Boston Scientific Co. (NYSE:BSX) Receives $97.26 Average PT from Brokerages

Shares of Boston Scientific Co. (NYSE:BSX) have been given an average recommendation of “Moderate Buy” by the twenty-three ratings firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $97.26.

Several equities analysts have recently issued reports on the company. Truist Financial upped their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Citigroup upped their price objective on Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group boosted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Stifel Nicolaus increased their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, TD Cowen lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th.

Insider Transactions at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at $2,660,580.24. This represents a 19.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of BSX. Global Wealth Strategies & Associates increased its holdings 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 buying an additional 250 shares during the last quarter. West Oak Capital LLC purchased a new position in Boston Scientific in the fourth quarter worth $29,000. Dunhill Financial LLC increased its stake in Boston Scientific by 86.4% in the third 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 during the last quarter. Values First Advisors Inc. purchased a new stake in Boston Scientific during the third quarter valued at about $28,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in Boston Scientific during the third quarter worth about $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $98.73 on Monday. 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 $145.52 billion, a PE ratio of 81.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.80. The stock’s fifty day simple moving average is $91.00 and its two-hundred day simple moving average is $84.54. Boston Scientific has a 1-year low of $59.85 and a 1-year high of $99.14.

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.