Boston Scientific (NYSE:BSX) Price Target Raised to $110.00 at Truist Financial

Boston Scientific (NYSE:BSX) had its price objective increased by Truist Financial from $100.00 to $110.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

A number of other equities analysts have also commented on the company. TD Cowen boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Bank of America upped their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Sanford C. Bernstein raised their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Finally, BTIG Research boosted their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.96.

Boston Scientific Stock Up 0.3 %

Shares of NYSE BSX opened at $88.95 on Wednesday. The business has a fifty day moving average of $88.31 and a two-hundred day moving average of $82.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific has a 52-week low of $54.96 and a 52-week high of $91.93. The stock has a market cap of $131.10 billion, a PE ratio of 73.51, a PEG ratio of 2.67 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. During the same period in the previous year, the business earned $0.50 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities research analysts expect that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of 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 9.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares in the company, valued at approximately $2,660,580.24. The trade was a 19.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 328,157 shares of company stock worth $27,957,676. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. &PARTNERS raised its stake in shares of Boston Scientific by 95.6% in the 2nd quarter. &PARTNERS now owns 9,812 shares of the medical equipment provider’s stock valued at $756,000 after purchasing an additional 4,796 shares during the period. Cornerstone Wealth Group LLC acquired a new stake in Boston Scientific in the 2nd quarter valued at approximately $207,000. Catalina Capital Group LLC lifted its stake in Boston Scientific by 3.1% in the 2nd quarter. Catalina Capital Group LLC now owns 5,578 shares of the medical equipment provider’s stock valued at $430,000 after acquiring an additional 169 shares in the last quarter. Everhart Financial Group Inc. boosted its position in Boston Scientific by 9.4% during the 2nd quarter. Everhart Financial Group Inc. now owns 12,764 shares of the medical equipment provider’s stock worth $983,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Lebenthal Global Advisors LLC grew its stake in shares of Boston Scientific by 1.6% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 18,838 shares of the medical equipment provider’s stock worth $1,451,000 after acquiring an additional 288 shares in the last quarter. 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.