Boston Scientific Co. (NYSE:BSX) Receives $93.39 Consensus Target Price from Brokerages

Boston Scientific Co. (NYSE:BSX) has received an average recommendation of “Moderate Buy” from the twenty-three research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $93.39.

A number of research firms recently weighed in on BSX. Raymond James increased their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Truist Financial raised their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. TD Cowen upped their target price on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 21st. Evercore ISI raised their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th.

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was 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 directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was 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 directly owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock worth $26,196,718 in the last quarter. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its position in Boston Scientific by 10.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 66,024 shares of the medical equipment provider’s stock worth $4,522,000 after purchasing an additional 6,485 shares during the last quarter. Miracle Mile Advisors LLC grew its position in Boston Scientific by 3.9% during the first quarter. Miracle Mile Advisors LLC now owns 4,984 shares of the medical equipment provider’s stock valued at $341,000 after buying an additional 185 shares during the period. Monument Capital Management purchased a new stake in Boston Scientific during the first quarter worth about $209,000. Norden Group LLC bought a new stake in Boston Scientific in the first quarter worth about $576,000. Finally, First Trust Direct Indexing L.P. boosted its stake in Boston Scientific by 9.9% in the first quarter. First Trust Direct Indexing L.P. now owns 38,506 shares of the medical equipment provider’s stock valued at $2,637,000 after acquiring an additional 3,482 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 1.0 %

NYSE BSX opened at $85.54 on Wednesday. The business’s fifty day moving average is $84.21 and its 200 day moving average is $78.68. Boston Scientific has a twelve month low of $50.84 and a twelve month high of $88.79. The company has a market cap of $125.97 billion, a price-to-earnings ratio of 70.69, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.41%. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period last year, the company earned $0.50 EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts expect that Boston Scientific will post 2.46 EPS for the current fiscal year.

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.