Boston Scientific Co. (NYSE:BSX) Receives $108.91 Average Price Target from Analysts

Shares of Boston Scientific Co. (NYSE:BSX) have been assigned an average recommendation of “Buy” from the twenty-three ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $108.91.

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Friday, January 10th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Truist Financial increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Raymond James upped their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a report on Thursday, February 6th.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the sale, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares in the company, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,183 shares of company stock valued at $13,948,476 over the last quarter. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors have recently added to or reduced their stakes in BSX. Kingsview Wealth Management LLC boosted its position in shares of Boston Scientific by 5.0% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,970 shares of the medical equipment provider’s stock valued at $500,000 after acquiring an additional 282 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Boston Scientific by 3.2% in the 3rd quarter. D.A. Davidson & CO. now owns 10,945 shares of the medical equipment provider’s stock valued at $917,000 after purchasing an additional 342 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of Boston Scientific by 191.9% during the 3rd quarter. Townsquare Capital LLC now owns 26,896 shares of the medical equipment provider’s stock worth $2,254,000 after buying an additional 17,683 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Boston Scientific by 19.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 20,463 shares of the medical equipment provider’s stock worth $1,715,000 after buying an additional 3,261 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Boston Scientific during the 3rd quarter valued at approximately $6,254,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX stock opened at $89.78 on Friday. Boston Scientific has a fifty-two week low of $66.80 and a fifty-two week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a market capitalization of $132.78 billion, a price-to-earnings ratio of 71.82, a PEG ratio of 2.79 and a beta of 0.77. The stock’s 50-day simple moving average is $101.90 and its 200-day simple moving average is $93.55.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, equities analysts forecast that Boston Scientific will post 2.85 earnings per share 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.