Boston Scientific (NYSE:BSX) Stock Price Expected to Rise, Truist Financial Analyst Says

Boston Scientific (NYSE:BSX) had its price target upped by stock analysts at Truist Financial from $100.00 to $110.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s target price points to a potential upside of 22.71% from the company’s current price.

Other analysts have also recently issued reports about the company. Mizuho boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday. Raymond James increased their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Barclays upped their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Stifel Nicolaus raised their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $95.96.

Boston Scientific Trading Down 0.9 %

NYSE:BSX opened at $89.64 on Wednesday. The firm has a fifty day simple moving average of $88.20 and a 200-day simple moving average of $82.08. The company has a market capitalization of $132.11 billion, a P/E ratio of 74.39, a PEG ratio of 2.67 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific has a 12 month low of $54.95 and a 12 month high of $91.93.

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

Insider Activity

In other news, Director Edward J. Ludwig sold 4,877 shares of the business’s 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 sale, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 328,157 shares of company stock worth $27,957,676. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

A number of large investors have recently modified their holdings of BSX. State Street Corp boosted its position in Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP raised its holdings in Boston Scientific by 2.2% in 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 acquiring an additional 718,515 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 during the period. Legal & General Group Plc grew its position in shares of Boston Scientific by 2.7% in the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after purchasing an additional 360,793 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Boston Scientific by 0.8% during 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 buying an additional 64,720 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.