TD Cowen Raises Boston Scientific (NYSE:BSX) Price Target to $100.00

Boston Scientific (NYSE:BSX) had its price objective lifted by TD Cowen from $86.00 to $100.00 in a report published on Monday, Benzinga reports. TD Cowen currently has a buy rating on the medical equipment provider’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada raised their price target on shares of Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Truist Financial upped their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. Canaccord Genuity Group lifted their price target on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley lifted their target price on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.68.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $87.45 on Monday. Boston Scientific has a 52 week low of $49.15 and a 52 week high of $88.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $83.19 and a 200-day moving average price of $77.57. The company has a market cap of $128.30 billion, a PE ratio of 73.49, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates 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%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. Equities analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’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 sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 316,253 shares of company stock worth $26,714,298. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Legacy Wealth Asset Management LLC grew its holdings in Boston Scientific by 2.0% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 24,508 shares of the medical equipment provider’s stock worth $2,054,000 after acquiring an additional 472 shares during the last quarter. Trueblood Wealth Management LLC boosted its holdings in shares of Boston Scientific by 14.4% during the third quarter. Trueblood Wealth Management LLC now owns 3,125 shares of the medical equipment provider’s stock worth $262,000 after purchasing an additional 393 shares during the period. Lake Street Advisors Group LLC grew its stake in shares of Boston Scientific by 9.0% in the third quarter. Lake Street Advisors Group LLC now owns 7,312 shares of the medical equipment provider’s stock worth $613,000 after purchasing an additional 604 shares during the last quarter. Cullinan Associates Inc. increased its holdings in Boston Scientific by 1.8% during the 3rd quarter. Cullinan Associates Inc. now owns 29,000 shares of the medical equipment provider’s stock valued at $2,559,000 after purchasing an additional 500 shares during the period. Finally, Tandem Capital Management Corp ADV raised its position in Boston Scientific by 0.8% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 58,351 shares of the medical equipment provider’s stock valued at $4,890,000 after purchasing an additional 485 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Company Profile

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.