Boston Scientific (NYSE:BSX) Given New $100.00 Price Target at Wells Fargo & Company

Boston Scientific (NYSE:BSX) had its price objective lifted by Wells Fargo & Company from $98.00 to $100.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 10.31% from the company’s current price.

A number of other equities analysts have also recently commented on BSX. Royal Bank of Canada raised their target price on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays increased their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Truist Financial upped 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. Bank of America boosted their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen increased their price target on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.61.

Boston Scientific Trading Up 0.5 %

BSX traded up $0.45 during trading hours on Wednesday, reaching $90.65. The company’s stock had a trading volume of 294,319 shares, compared to its average volume of 5,977,556. The business’s 50-day moving average is $87.50 and its 200-day moving average is $81.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a market cap of $133.60 billion, a PE ratio of 74.84, a P/E/G ratio of 2.65 and a beta of 0.80. Boston Scientific has a fifty-two week low of $54.95 and a fifty-two week high of $91.93.

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

Insider Activity at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of the 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 completion of 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 represents a 9.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 value of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock worth $27,957,676 in the last quarter. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Hedge funds have recently modified their holdings of the business. Diversified Trust Co grew its stake in shares of Boston Scientific by 13.4% during the 2nd quarter. Diversified Trust Co now owns 5,627 shares of the medical equipment provider’s stock worth $433,000 after purchasing an additional 666 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Boston Scientific by 7.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 71,068 shares of the medical equipment provider’s stock valued at $5,473,000 after acquiring an additional 5,044 shares during the period. ORG Partners LLC boosted its stake in shares of Boston Scientific by 6,094.7% during the 2nd quarter. ORG Partners LLC now owns 1,177 shares of the medical equipment provider’s stock worth $90,000 after acquiring an additional 1,158 shares in the last quarter. AdvisorNet Financial Inc increased its stake in Boston Scientific by 6.3% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,786 shares of the medical equipment provider’s stock valued at $292,000 after purchasing an additional 223 shares in the last quarter. Finally, Welch Group LLC acquired a new position in Boston Scientific during the second quarter worth $205,000. 89.07% of the stock is owned by institutional investors and hedge funds.

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.