Boston Scientific Co. (NYSE:BSX) Receives $114.74 Consensus Price Target from Analysts

Shares of Boston Scientific Co. (NYSE:BSX) have received an average rating of “Buy” from the twenty-four ratings firms that are covering the firm, Marketbeat Ratings reports. Twenty-two equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $114.87.

Several research firms have recently weighed in on BSX. Stifel Nicolaus lifted their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Robert W. Baird lifted their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Truist Financial boosted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Finally, Raymond James boosted their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th.

Insiders Place Their Bets

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were 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 approximately $2,966,329.50. The trade was a 14.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,830 shares of company stock valued at $20,043,415 in the last 90 days. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Park Avenue Securities LLC lifted its position in Boston Scientific by 12.0% in the fourth quarter. Park Avenue Securities LLC now owns 12,869 shares of the medical equipment provider’s stock valued at $1,149,000 after buying an additional 1,381 shares during the last quarter. Ritholtz Wealth Management lifted its position in Boston Scientific by 14.2% in the fourth quarter. Ritholtz Wealth Management now owns 32,646 shares of the medical equipment provider’s stock valued at $2,916,000 after buying an additional 4,050 shares during the last quarter. Empirical Asset Management LLC acquired a new position in Boston Scientific in the fourth quarter valued at about $1,447,000. Procyon Advisors LLC acquired a new position in Boston Scientific in the fourth quarter valued at about $208,000. Finally, Merit Financial Group LLC lifted its position in Boston Scientific by 12.0% in the fourth quarter. Merit Financial Group LLC now owns 107,482 shares of the medical equipment provider’s stock valued at $9,600,000 after buying an additional 11,502 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $104.42 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific has a 12 month low of $71.88 and a 12 month high of $107.17. The company has a 50 day simple moving average of $99.87 and a two-hundred day simple moving average of $97.16. The stock has a market cap of $154.48 billion, a price-to-earnings ratio of 83.54, a PEG ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 EPS. As a group, analysts predict that Boston Scientific will post 2.85 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.