Truist Financial Issues Pessimistic Forecast for Boston Scientific (NYSE:BSX) Stock Price

Boston Scientific (NYSE:BSX - Get Free Report) had its price objective cut by Truist Financial from $120.00 to $113.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the medical equipment provider's stock. Truist Financial's target price indicates a potential upside of 18.55% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company upped their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. UBS Group boosted their target price on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Royal Bank of Canada boosted their price objective on Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Morgan Stanley lifted their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Finally, Piper Sandler lifted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $110.22.

Boston Scientific Price Performance

Shares of BSX stock traded up $1.09 during trading hours on Friday, hitting $95.32. 3,842,537 shares of the company's stock were exchanged, compared to its average volume of 6,353,673. The firm has a market cap of $140.98 billion, a P/E ratio of 76.26, a P/E/G ratio of 2.79 and a beta of 0.73. The firm has a 50 day moving average of $100.11 and a two-hundred day moving average of $94.18. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific has a fifty-two week low of $66.80 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Sell-side analysts forecast that Boston Scientific will post 2.85 EPS for the current year.

Insider Buying and Selling

In other news, CFO Daniel J. Brennan sold 67,333 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the transaction, the chief financial officer now owns 225,808 shares of the company's stock, valued at approximately $23,764,033.92. This trade represents a 22.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Bradley Sorenson sold 1,201 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the sale, the executive vice president now owns 25,443 shares of the company's stock, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,183 shares of company stock worth $13,948,476. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Boston Scientific during the fourth quarter valued at approximately $1,762,522,000. Capital World Investors boosted its holdings in Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after acquiring an additional 6,216,199 shares during the period. Wellington Management Group LLP grew its position in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after purchasing an additional 3,344,571 shares during the last quarter. GAMMA Investing LLC boosted its stake in Boston Scientific by 11,720.3% during the 1st quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider's stock valued at $260,057,000 after purchasing an additional 2,556,078 shares during the period. Finally, Axiom Investors LLC DE increased its position in Boston Scientific by 208.2% in the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock worth $335,167,000 after buying an additional 2,535,007 shares during the period. Institutional investors and hedge funds 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.