Boston Scientific (NYSE:BSX - Free Report) had its target price lifted by Barclays from $118.00 to $125.00 in a research report sent to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the medical equipment provider's stock.
Other equities analysts have also issued research reports about the stock. Truist Financial lifted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a report on Thursday. Needham & Company LLC upped their price target on shares of Boston Scientific from $113.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday. Wells Fargo & Company upped their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. BTIG Research reiterated a "buy" rating and issued a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Robert W. Baird boosted their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $114.52.
Get Our Latest Report on Boston Scientific
Boston Scientific Trading Up 0.3 %
NYSE BSX traded up $0.27 during mid-day trading on Friday, reaching $102.17. 7,815,133 shares of the stock were exchanged, compared to its average volume of 6,363,080. Boston Scientific has a 1-year low of $70.97 and a 1-year high of $107.17. The business's fifty day simple moving average is $98.68 and its 200 day simple moving average is $94.92. The stock has a market capitalization of $151.12 billion, a PE ratio of 81.74, a PEG ratio of 2.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.
Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Boston Scientific's revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the business earned $0.56 EPS. On average, research analysts anticipate that Boston Scientific will post 2.85 earnings per share for the current fiscal year.
Insider Buying and Selling at Boston Scientific
In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 6,528 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the completion of the sale, the executive vice president now owns 26,449 shares in the company, valued at approximately $2,776,351.53. This represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,009 shares of company stock worth $14,407,381. 0.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On Boston Scientific
Hedge funds have recently modified their holdings of the company. Mechanics Bank Trust Department acquired a new position in shares of Boston Scientific during the 4th quarter valued at $415,000. Highland Capital Management LLC bought a new stake in shares of Boston Scientific during the 4th quarter worth $4,887,000. Covenant Asset Management LLC bought a new stake in shares of Boston Scientific during the 4th quarter worth $3,405,000. Brookstone Capital Management boosted its stake in shares of Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock worth $9,455,000 after acquiring an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. boosted its stake in shares of Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock worth $1,744,000 after acquiring an additional 4,702 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.
About Boston Scientific
(
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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.
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