Boston Scientific (NYSE:BSX) Sets New 52-Week High – Should You Buy?

Boston Scientific Co. (NYSE:BSX)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $84.95 and last traded at $84.70, with a volume of 1245503 shares changing hands. The stock had previously closed at $84.54.

Wall Street Analysts Forecast Growth

BSX has been the topic of several recent research reports. Truist Financial upped their price target on shares of Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Raymond James upped their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Barclays upped their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. BTIG Research upped their price target on shares of Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Needham & Company LLC upped their price target on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $87.60.

Boston Scientific Price Performance

The stock has a market capitalization of $127.20 billion, a PE ratio of 72.44, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80. The stock’s 50 day moving average is $80.48 and its two-hundred day moving average is $76.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data 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 company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. Boston Scientific’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. On average, equities analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s 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 sale, the chief executive officer now 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 quarter, insiders sold 316,253 shares of company stock worth $26,714,298. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds have recently made changes to their positions in BSX. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific in the second quarter valued at $26,000. First Foundation Advisors acquired a new stake in Boston Scientific in the 1st quarter valued at about $25,000. Eagle Bay Advisors LLC grew its position in shares of Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares in the last quarter. Andra AP fonden acquired a new stake in Boston Scientific in the second quarter valued at approximately $29,000. Finally, Lynx Investment Advisory acquired a new stake in Boston Scientific in the second quarter valued at approximately $30,000. 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.