Boston Scientific (NYSE:BSX) Price Target Raised to $50.00 at Piper Sandler

Boston Scientific (NYSE:BSXGet Rating) had its price objective hoisted by Piper Sandler from $47.00 to $50.00 in a report issued on Friday morning, The Fly reports. They currently have an overweight rating on the medical equipment provider’s stock.

Other equities research analysts have also issued reports about the stock. Wolfe Research began coverage on shares of Boston Scientific in a report on Tuesday, July 5th. They set an outperform rating and a $43.00 price objective on the stock. TheStreet raised shares of Boston Scientific from a c+ rating to a b- rating in a report on Wednesday, August 24th. Needham & Company LLC raised shares of Boston Scientific from a hold rating to a buy rating and set a $48.00 price objective on the stock in a report on Friday, May 27th. Truist Financial dropped their price objective on shares of Boston Scientific from $51.00 to $45.00 and set a buy rating on the stock in a report on Wednesday, July 20th. Finally, Citigroup dropped their price objective on shares of Boston Scientific from $52.00 to $47.00 and set a buy rating on the stock in a report on Tuesday, May 17th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $46.83.

Boston Scientific Price Performance

NYSE BSX opened at $42.94 on Friday. The firm’s fifty day simple moving average is $40.06 and its two-hundred day simple moving average is $40.99. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.51. Boston Scientific has a 12-month low of $34.98 and a 12-month high of $47.49. The firm has a market capitalization of $61.39 billion, a P/E ratio of 74.03, a P/E/G ratio of 2.25 and a beta of 0.85.

Boston Scientific (NYSE:BSXGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. Boston Scientific had a net margin of 7.16% and a return on equity of 14.58%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that Boston Scientific will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, Director Nelda J. Connors sold 16,088 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $41.58, for a total value of $668,939.04. Following the completion of the transaction, the director now owns 4,877 shares in the company, valued at $202,785.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Boston Scientific news, Director Nelda J. Connors sold 16,088 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $41.58, for a total value of $668,939.04. Following the completion of the transaction, the director now owns 4,877 shares in the company, valued at $202,785.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Eric Francis Yves Thepaut sold 20,676 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $40.99, for a total transaction of $847,509.24. Following the completion of the transaction, the executive vice president now owns 72,486 shares of the company’s stock, valued at approximately $2,971,201.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,264 shares of company stock worth $2,401,673. Company insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. UMB Bank N A MO acquired a new position in shares of Boston Scientific during the 4th quarter worth about $25,000. CoreCap Advisors LLC acquired a new position in shares of Boston Scientific during the 2nd quarter worth about $27,000. Crewe Advisors LLC acquired a new position in shares of Boston Scientific during the 2nd quarter worth about $27,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Boston Scientific during the 1st quarter worth about $34,000. Finally, Concorde Financial Corp acquired a new position in shares of Boston Scientific during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 90.33% of the company’s stock.

About Boston Scientific

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Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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