Boston Scientific (NYSE:BSX) Given New $113.00 Price Target at Truist Financial

Boston Scientific (NYSE:BSX) had its price target decreased by Truist Financial from $120.00 to $113.00 in a report published on Friday,Benzinga reports. Truist Financial currently has a buy rating on the medical equipment provider’s stock.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Argus set a $130.00 price objective on shares of Boston Scientific in a research note on Tuesday, February 18th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Monday, March 3rd. Wells Fargo & Company raised their price objective on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, UBS Group upped their target price on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.04.

Boston Scientific Trading Up 1.1 %

Shares of Boston Scientific stock opened at $93.66 on Friday. The firm’s 50-day moving average price is $100.54 and its two-hundred day moving average price is $94.02. The company has a market capitalization of $138.53 billion, a price-to-earnings ratio of 74.93, a PEG ratio of 2.79 and a beta of 0.73. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific has a 12-month low of $66.80 and a 12-month 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 the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, analysts forecast that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 15,087 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the transaction, the chief financial officer now directly owns 241,451 shares in the company, valued at approximately $25,369,256.57. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 6,528 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the completion of the sale, the executive vice president now owns 26,449 shares of the company’s stock, valued at approximately $2,776,351.53. The trade was a 19.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,183 shares of company stock valued at $13,948,476. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors have recently bought and sold shares of the company. Mechanics Bank Trust Department bought a new position in shares of Boston Scientific during the 4th quarter worth $415,000. Highland Capital Management LLC purchased a new stake in shares of Boston Scientific during the 4th quarter valued at approximately $4,887,000. Covenant Asset Management LLC bought a new position in Boston Scientific in the 4th quarter worth approximately $3,405,000. Brookstone Capital Management grew its stake in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after buying an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. grew its holdings 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 buying an additional 4,702 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.