Wells Fargo & Company Forecasts Strong Price Appreciation for Boston Scientific (NYSE:BSX) Stock

Boston Scientific (NYSE:BSX) had its price target raised by Wells Fargo & Company from $100.00 to $118.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 12.17% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Mizuho increased their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup upped their target price on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday. Sanford C. Bernstein boosted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada increased their price target on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Raymond James upped their price target on shares of Boston Scientific from $101.00 to $119.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 31st. One research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $102.70.

Boston Scientific Stock Performance

BSX stock traded up $0.23 during trading on Thursday, hitting $105.20. The company had a trading volume of 1,367,590 shares, compared to its average volume of 6,066,163. Boston Scientific has a 1-year low of $64.39 and a 1-year high of $107.17. The firm has a 50-day moving average price of $94.30 and a 200-day moving average price of $86.84. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a market cap of $155.04 billion, a PE ratio of 86.81, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. On average, analysts expect that Boston Scientific will post 2.46 earnings per share for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the sale, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % 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. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. This trade represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,302 shares of company stock worth $4,464,725 over the last 90 days. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TFC Financial Management Inc. boosted its stake in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 210 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Boston Scientific during the third quarter worth about $28,000. Dunhill Financial LLC boosted its holdings 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. Global Wealth Strategies & Associates increased its position in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the period. Finally, West Oak Capital LLC bought a new stake in shares of Boston Scientific in the 4th quarter valued at $29,000. 89.07% of the stock is 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.