Brokerages Set Boston Scientific Co. (NYSE:BSX) Price Target at $108.91

Shares of Boston Scientific Co. (NYSE:BSX) have earned an average rating of “Buy” from the twenty-three ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $108.91.

BSX has been the topic of several recent research reports. Argus set a $130.00 price target on Boston Scientific in a research report on Tuesday, February 18th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Monday, March 3rd. Royal Bank of Canada raised their price target on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their price target on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Piper Sandler raised their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd.

Insider Buying and Selling

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,322 shares of company stock worth $14,321,068. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Institutional investors and hedge funds have recently made changes to their positions in the company. TFC Financial Management Inc. grew its position in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. Colonial Trust Co SC grew its position in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 260 shares during the last quarter. Investment Management Corp VA ADV acquired a new position in shares of Boston Scientific in the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC acquired a new position in shares of Boston Scientific in the fourth quarter valued at approximately $26,000. Finally, Dunhill Financial LLC grew its position in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Down 1.6 %

Shares of BSX opened at $99.15 on Tuesday. The firm has a market capitalization of $146.33 billion, a price-to-earnings ratio of 79.32, a PEG ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The business’s fifty day moving average price is $100.45 and its two-hundred day moving average price is $91.19. Boston Scientific has a 52 week low of $65.52 and a 52 week high of $107.17.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. On average, analysts predict that Boston Scientific will post 2.85 earnings per share for the current year.

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.