BTIG Research Raises Boston Scientific (NYSE:BSX) Price Target to $93.00

Boston Scientific (NYSE:BSX) had its price objective raised by BTIG Research from $84.00 to $93.00 in a report published on Monday, Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

Several other equities research analysts have also weighed in on BSX. Deutsche Bank Aktiengesellschaft boosted their target price on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Barclays boosted their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Truist Financial boosted their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada boosted their target price on Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, TD Cowen boosted their target price on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.55.

Boston Scientific Stock Up 0.3 %

Shares of Boston Scientific stock opened at $87.02 on Monday. The firm has a market cap of $127.66 billion, a price-to-earnings ratio of 73.12, a P/E/G ratio of 2.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific has a 52-week low of $49.15 and a 52-week high of $88.09. The stock has a 50-day simple moving average of $82.03 and a 200-day simple moving average of $76.89.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. On average, equities research analysts expect that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction that occurred 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 directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 316,253 shares of company stock worth $26,714,298. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of large investors have recently bought and sold shares of BSX. Capital World Investors grew its position in Boston Scientific by 69.9% in the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after acquiring an additional 6,588,256 shares during the period. Marshall Wace LLP grew its position in Boston Scientific by 115.9% in the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after acquiring an additional 3,608,158 shares during the period. Capital Research Global Investors bought a new stake in Boston Scientific in the first quarter valued at $182,897,000. Vanguard Group Inc. boosted its stake in Boston Scientific by 1.6% in the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after purchasing an additional 1,988,082 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after purchasing an additional 1,824,405 shares in the last quarter. 89.07% of the stock is currently owned by 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.