Boston Scientific (NYSE:BSX) Price Target Raised to $115.00 at Piper Sandler

Boston Scientific (NYSE:BSX) had its price objective raised by Piper Sandler from $95.00 to $115.00 in a research note published on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the medical equipment provider’s stock.

BSX has been the subject of several other research reports. BTIG Research raised their price objective on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Citigroup lifted their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Bank of America lifted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Sanford C. Bernstein upped their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and an average target price of $100.39.

Boston Scientific Stock Up 0.7 %

BSX stock opened at $103.11 on Monday. The company has a market capitalization of $151.97 billion, a price-to-earnings ratio of 85.22, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The business’s 50 day moving average price is $93.47 and its two-hundred day moving average price is $86.33. Boston Scientific has a fifty-two week low of $64.08 and a fifty-two week high of $104.25.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the transaction, the executive vice president now owns 29,308 shares in the company, valued at $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock worth $2,702,261 in the last ninety days. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after purchasing an additional 718,515 shares during the period. Geode Capital Management LLC lifted its stake in shares of Boston Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after buying an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Boston Scientific by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after buying an additional 64,720 shares during the period. Finally, Impax Asset Management Group plc increased its stake in Boston Scientific by 17.5% in the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after buying an additional 815,403 shares in the last quarter. Hedge funds and other 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.