Barclays Increases Boston Scientific (NYSE:BSX) Price Target to $118.00

Boston Scientific (NYSE:BSX) had its price target increased by Barclays from $111.00 to $118.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Barclays‘s target price indicates a potential upside of 12.03% from the company’s previous close.

A number of other brokerages have also recently commented on BSX. Mizuho raised their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Raymond James boosted their price objective on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday. TD Cowen raised their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Piper Sandler boosted their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Stifel Nicolaus upped their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Boston Scientific has an average rating of “Buy” and a consensus price target of $107.39.

Boston Scientific Stock Up 0.3 %

BSX stock opened at $105.33 on Monday. The business’s 50-day moving average is $94.88 and its two-hundred day moving average is $87.21. The company has a market cap of $155.24 billion, a price-to-earnings ratio of 84.26, a P/E/G ratio of 2.79 and a beta of 0.80. Boston Scientific has a fifty-two week low of $64.39 and a fifty-two week high of $107.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. As a group, analysts forecast that Boston Scientific will post 2.83 earnings per share for the current year.

Insider Activity

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the sale, the executive vice president now owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,302 shares of company stock worth $4,464,725. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Boston Scientific by 9.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after acquiring an additional 119 shares in the last quarter. Adero Partners LLC increased its stake in Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after purchasing an additional 120 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of Boston Scientific by 4.4% in the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after buying an additional 122 shares during the last quarter. PFG Investments LLC lifted its stake in shares of Boston Scientific by 1.6% during the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after buying an additional 125 shares during the period. Finally, Stonegate Investment Group LLC grew its holdings in shares of Boston Scientific by 1.6% during the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock valued at $699,000 after buying an additional 126 shares during the last quarter. 89.07% of the stock is currently 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.