Boston Scientific (NYSE:BSX) Price Target Raised to $118.00

Boston Scientific (NYSE:BSX) had its target price hoisted by Barclays from $111.00 to $118.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the medical equipment provider’s stock.

Several other equities research analysts have also issued reports on the company. Truist Financial lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Friday, January 10th. UBS Group lifted their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Morgan Stanley lifted their price target on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $107.39.

Boston Scientific Price Performance

NYSE:BSX opened at $105.80 on Monday. The firm has a market capitalization of $155.93 billion, a price-to-earnings ratio of 84.64, a P/E/G ratio of 2.79 and a beta of 0.80. Boston Scientific has a 52-week low of $64.54 and a 52-week high of $107.17. The stock has a fifty day moving average of $95.50 and a 200 day moving average of $87.72. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. On average, research analysts expect that Boston Scientific will post 2.83 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now owns 39,398 shares in the company, valued at $3,610,038.74. The trade was a 11.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Bradley Sorenson sold 6,528 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the transaction, the executive vice president now owns 26,449 shares in the company, valued at approximately $2,776,351.53. This represents a 19.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,830 shares of company stock worth $6,415,729 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Large investors have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after acquiring an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department bought a new stake in Boston Scientific during the 4th quarter valued at approximately $415,000. Highland Capital Management LLC bought a new stake in Boston Scientific during the 4th quarter valued at approximately $4,887,000. Brookstone Capital Management boosted its position in Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after acquiring an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. boosted its position in Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after acquiring an additional 4,702 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

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.