Boston Scientific (NYSE:BSX) Price Target Raised to $72.00

Boston Scientific (NYSE:BSXFree Report) had its target price upped by Wells Fargo & Company from $70.00 to $72.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the medical equipment provider’s stock.

A number of other equities research analysts also recently issued reports on BSX. Truist Financial increased their price target on shares of Boston Scientific from $59.00 to $66.00 and gave the stock a buy rating in a report on Friday, December 22nd. Canaccord Genuity Group increased their price target on shares of Boston Scientific from $60.00 to $64.00 and gave the stock a buy rating in a report on Monday, November 27th. Morgan Stanley increased their price target on shares of Boston Scientific from $58.00 to $61.00 and gave the stock an overweight rating in a report on Monday, December 4th. Needham & Company LLC increased their price target on shares of Boston Scientific from $60.00 to $71.00 and gave the stock a buy rating in a report on Thursday. Finally, BTIG Research reissued a buy rating and issued a $64.00 price target on shares of Boston Scientific in a report on Friday, December 29th. One analyst has rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Buy and a consensus target price of $65.55.

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Boston Scientific Price Performance

Shares of NYSE:BSX opened at $64.37 on Thursday. The company’s 50-day moving average is $58.00 and its 200 day moving average is $54.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.90 and a current ratio of 1.42. The company has a market capitalization of $94.30 billion, a P/E ratio of 60.16, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. Boston Scientific has a fifty-two week low of $45.92 and a fifty-two week high of $65.00.

Boston Scientific (NYSE:BSXGet Free Report) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 16.19%. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, equities research analysts forecast that Boston Scientific will post 2.25 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $58.40, for a total transaction of $876,000.00. Following the transaction, the executive vice president now directly owns 56,588 shares in the company, valued at $3,304,739.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Jeffrey B. Mirviss sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $58.40, for a total transaction of $876,000.00. Following the completion of the sale, the executive vice president now owns 56,588 shares of the company’s stock, valued at $3,304,739.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 11,660 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $60.00, for a total value of $699,600.00. Following the completion of the sale, the executive vice president now directly owns 173,472 shares of the company’s stock, valued at approximately $10,408,320. The disclosure for this sale can be found here. Insiders have sold 42,185 shares of company stock worth $2,493,967 over the last ninety days. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BSW Wealth Partners lifted its position in Boston Scientific by 2.3% during the fourth quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock valued at $428,000 after buying an additional 165 shares during the period. Valley National Advisers Inc. lifted its position in Boston Scientific by 2.3% during the fourth quarter. Valley National Advisers Inc. now owns 7,526 shares of the medical equipment provider’s stock valued at $435,000 after buying an additional 170 shares during the period. Whitaker Myers Wealth Managers LTD. lifted its position in Boston Scientific by 4.6% during the fourth quarter. Whitaker Myers Wealth Managers LTD. now owns 4,093 shares of the medical equipment provider’s stock valued at $237,000 after buying an additional 179 shares during the period. Koss Olinger Consulting LLC lifted its position in Boston Scientific by 3.7% during the first quarter. Koss Olinger Consulting LLC now owns 5,322 shares of the medical equipment provider’s stock valued at $266,000 after buying an additional 191 shares during the period. Finally, Brighton Jones LLC lifted its position in Boston Scientific by 5.4% during the third quarter. Brighton Jones LLC now owns 3,999 shares of the medical equipment provider’s stock valued at $211,000 after buying an additional 205 shares during the period. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Boston Scientific Company Profile

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Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

Further Reading

Analyst Recommendations for Boston Scientific (NYSE:BSX)

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