Boston Scientific (NYSE:BSX) Price Target Raised to $115.00 at Piper Sandler

Boston Scientific (NYSE:BSX) had its target price lifted by stock analysts at Piper Sandler from $95.00 to $115.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s target price would indicate a potential upside of 11.72% from the stock’s current price.

BSX has been the subject of several other research reports. JPMorgan Chase & Co. upped their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Bank of America raised their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Citigroup raised their target price on Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Sanford C. Bernstein lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $100.39.

Boston Scientific Stock Performance

BSX traded up $0.58 on Monday, hitting $102.94. The company had a trading volume of 1,299,408 shares, compared to its average volume of 5,666,748. Boston Scientific has a 1-year low of $64.08 and a 1-year high of $104.25. The stock has a market cap of $151.71 billion, a price-to-earnings ratio of 85.18, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The company’s fifty day moving average price is $93.47 and its 200 day moving average price is $86.33.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction 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 sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction 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 directly owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,989 shares of company stock worth $2,702,261 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of large investors have recently bought and sold shares of the stock. State Street Corp lifted its stake in shares of 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 buying an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP boosted its stake in Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after purchasing an additional 718,515 shares during the last quarter. Geode Capital Management LLC increased its holdings in Boston Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after purchasing an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Boston Scientific by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after purchasing an additional 64,720 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in shares of Boston Scientific by 17.5% in the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after purchasing an additional 815,403 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.