Mizuho Increases Boston Scientific (NYSE:BSX) Price Target to $110.00

Boston Scientific (NYSE:BSX) had its price objective upped by Mizuho from $100.00 to $110.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Mizuho’s price target indicates a potential upside of 29.82% from the company’s previous close.

A number of other research analysts also recently issued reports on BSX. Robert W. Baird boosted their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Morgan Stanley boosted their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Canaccord Genuity Group boosted their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Bank of America boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Truist Financial boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Trading Down 0.4 %

NYSE:BSX opened at $84.73 on Thursday. Boston Scientific has a 12 month low of $49.15 and a 12 month high of $88.79. The firm has a fifty day simple moving average of $83.34 and a 200-day simple moving average of $77.62. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $124.31 billion, a P/E ratio of 71.24, a PEG ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities research analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, 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 transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related 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 transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 316,253 shares of company stock valued at $26,714,298 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Several large investors have recently bought and sold shares of the business. Eagle Bay Advisors LLC boosted its holdings in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. First Foundation Advisors acquired a new position in Boston Scientific in the 1st quarter valued at about $25,000. Triad Wealth Partners LLC acquired a new position in Boston Scientific in the 2nd quarter valued at about $26,000. Values First Advisors Inc. acquired a new position in Boston Scientific in the 3rd quarter valued at about $28,000. Finally, Andra AP fonden acquired a new position in Boston Scientific in the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors 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.