Brokerages Set Boston Scientific Co. (NYSE:BSX) Price Target at $85.38

Boston Scientific Co. (NYSE:BSX) has been assigned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $85.38.

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Morgan Stanley upped their target price on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Truist Financial increased their price target on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Robert W. Baird boosted their price objective on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 target price on shares of Boston Scientific in a research note on Thursday, July 25th.

Boston Scientific Trading Up 1.1 %

Shares of NYSE BSX opened at $83.84 on Tuesday. The stock has a market capitalization of $123.00 billion, a P/E ratio of 70.45, a PEG ratio of 2.71 and a beta of 0.79. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $83.84. The business’s 50 day moving average is $77.94 and its two-hundred day moving average is $73.94. 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 (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion for 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%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. As a group, research analysts expect that Boston Scientific will post 2.4 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the transaction, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors have recently bought and sold shares of BSX. Eagle Bay Advisors LLC boosted its position in shares of Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. First Foundation Advisors acquired a new stake in Boston Scientific in the first quarter worth about $25,000. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the second quarter worth about $26,000. Andra AP fonden acquired a new position in shares of Boston Scientific during the second quarter valued at about $29,000. Finally, RiverPark Advisors LLC purchased a new position in shares of Boston Scientific in the 1st quarter valued at approximately $30,000. 89.07% of the stock is currently 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.