Boston Scientific (NYSE:BSX) PT Raised to $100.00 at Truist Financial

Boston Scientific (NYSE:BSX) had its target price boosted by equities researchers at Truist Financial from $90.00 to $100.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price target would suggest a potential upside of 14.22% from the company’s previous close.

BSX has been the topic of a number of other research reports. Robert W. Baird upped their target price on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Canaccord Genuity Group boosted their price target on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price target on Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Citigroup boosted their price target on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $88.10.

Boston Scientific Price Performance

Shares of NYSE:BSX traded up $0.45 during trading on Monday, hitting $87.55. 752,791 shares of the stock were exchanged, compared to its average volume of 5,946,185. The company has a fifty day moving average price of $81.21 and a two-hundred day moving average price of $76.55. The company has a market cap of $128.44 billion, a PE ratio of 73.28, a P/E/G ratio of 2.87 and a beta of 0.80. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific has a 12-month low of $49.15 and a 12-month high of $87.77.

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

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 316,253 shares of company stock valued at $26,714,298. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently bought and sold shares of the business. Eagle Bay Advisors LLC raised its stake in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares during the period. First Foundation Advisors acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $25,000. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific in the second quarter valued at approximately $26,000. Andra AP fonden acquired a new stake in shares of Boston Scientific in the second quarter valued at approximately $29,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.