Boston Scientific (NYSE:BSX) PT Raised to $100.00 at Sanford C. Bernstein

Boston Scientific (NYSE:BSX) had its target price hoisted by Sanford C. Bernstein from $92.00 to $100.00 in a research note released on Thursday morning, Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the medical equipment provider’s stock.

BSX has been the subject of several other research reports. Truist Financial lifted their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Morgan Stanley upped their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird lifted their price target on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Citigroup lifted their target price on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Stock Down 0.4 %

Shares of NYSE BSX opened at $84.73 on Thursday. The business has a 50-day moving average of $83.47 and a 200-day moving average of $77.86. The firm has a market capitalization of $124.31 billion, a price-to-earnings ratio of 71.20, a PEG 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 $88.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Sell-side analysts expect that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 316,253 shares of company stock valued at $26,714,298. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently bought and sold shares of the business. S.A. Mason LLC lifted its holdings in shares of Boston Scientific by 6.1% during the third quarter. S.A. Mason LLC now owns 2,335 shares of the medical equipment provider’s stock valued at $196,000 after purchasing an additional 135 shares during the last quarter. Oak Harvest Investment Services raised its stake in Boston Scientific by 60.7% during the third quarter. Oak Harvest Investment Services now owns 11,250 shares of the medical equipment provider’s stock valued at $943,000 after buying an additional 4,250 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Boston Scientific by 18.6% in the third quarter. First Trust Direct Indexing L.P. now owns 54,308 shares of the medical equipment provider’s stock worth $4,551,000 after acquiring an additional 8,518 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after acquiring an additional 119 shares during the last quarter. Finally, Golden State Equity Partners increased its holdings in shares of Boston Scientific by 1.4% during the third quarter. Golden State Equity Partners now owns 10,614 shares of the medical equipment provider’s stock valued at $889,000 after acquiring an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.