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

Boston Scientific (NYSE:BSX) had its price objective increased by equities research analysts at Truist Financial from $100.00 to $110.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price objective would suggest a potential upside of 24.07% from the stock’s current price.

Several other brokerages have also issued reports on BSX. BTIG Research upped their price target on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus raised their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Citigroup boosted their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Bank of America raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Canaccord Genuity Group upped their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $95.96.

Boston Scientific Stock Up 0.7 %

Shares of NYSE:BSX opened at $88.66 on Wednesday. Boston Scientific has a 12 month low of $54.95 and a 12 month high of $91.93. The firm has a market cap of $130.67 billion, a P/E ratio of 73.27, a P/E/G ratio of 2.67 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $88.27 and its two-hundred day moving average price is $82.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the business posted $0.50 earnings per share. Boston Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, research analysts forecast that Boston Scientific will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

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 transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This trade represents a 45.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 328,157 shares of company stock valued at $27,957,676. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. CRA Financial Services LLC boosted its stake in shares of Boston Scientific by 4.3% during the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 117 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Boston Scientific by 9.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 119 shares during the last quarter. Adero Partners LLC grew its stake in Boston Scientific by 3.6% in the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after purchasing an additional 127 shares in the last quarter. Ashton Thomas Securities LLC increased its position in shares of Boston Scientific by 1.3% during the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock worth $835,000 after purchasing an additional 129 shares during the last quarter. Finally, Jacobsen Capital Management raised its stake in shares of Boston Scientific by 4.9% during the 3rd quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock worth $236,000 after purchasing an additional 133 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

About Boston Scientific

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.