Boston Scientific Co. (NYSE:BSX) Receives $68.14 Average Target Price from Analysts

Shares of Boston Scientific Co. (NYSE:BSX) have been assigned a consensus recommendation of “Buy” from the twenty ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $68.50.

Several analysts have weighed in on BSX shares. Truist Financial lifted their price objective on Boston Scientific from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. TD Cowen lifted their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Argus lifted their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st.

Insider Buying and Selling

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now directly owns 271,542 shares in the company, valued at approximately $17,883,756.12. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock worth $3,418,529 in the last three months. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Hedge funds have recently modified their holdings of the business. Brookstone Capital Management lifted its position in Boston Scientific by 35.0% during the first quarter. Brookstone Capital Management now owns 14,300 shares of the medical equipment provider’s stock valued at $979,000 after purchasing an additional 3,710 shares in the last quarter. Richelieu Gestion SA purchased a new position in shares of Boston Scientific during the 1st quarter valued at about $185,000. Dynamic Advisor Solutions LLC grew its stake in shares of Boston Scientific by 1.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 63,221 shares of the medical equipment provider’s stock valued at $4,330,000 after acquiring an additional 599 shares during the period. Riverview Trust Co purchased a new stake in Boston Scientific in the 1st quarter worth approximately $219,000. Finally, Ignite Planners LLC bought a new stake in Boston Scientific during the 1st quarter worth approximately $220,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.9 %

NYSE BSX opened at $67.44 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The stock has a market capitalization of $98.94 billion, a PE ratio of 63.03, a PEG ratio of 2.38 and a beta of 0.78. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $69.21. The business’s 50-day moving average is $67.05 and its 200 day moving average is $59.52.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same period in the previous year, the firm posted $0.45 EPS. Sell-side analysts forecast that Boston Scientific will post 2.25 earnings per share for the current 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.