Boston Scientific (NYSE:BSX) Stock Price Expected to Rise, Barclays Analyst Says

Boston Scientific (NYSE:BSX) had its price objective increased by equities research analysts at Barclays from $118.00 to $125.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Barclays‘s price target suggests a potential upside of 22.60% from the stock’s current price.

A number of other research analysts also recently weighed in on BSX. Raymond James raised their price target on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Evercore ISI raised their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday. Truist Financial boosted their target price on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $114.52.

Boston Scientific Price Performance

NYSE BSX opened at $101.96 on Friday. The firm’s 50 day moving average is $98.68 and its 200-day moving average is $94.86. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $150.81 billion, a PE ratio of 81.57, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. Boston Scientific has a 12-month low of $70.97 and a 12-month high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. Equities research analysts anticipate that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 15,087 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 138,009 shares of company stock worth $14,407,381. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several hedge funds have recently added to or reduced their stakes in the business. TFC Financial Management Inc. raised its stake in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares during the last quarter. Colonial Trust Co SC increased its holdings in 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 period. Investment Management Corp VA ADV acquired a new stake in Boston Scientific in the fourth quarter valued at $25,000. Sunbeam Capital Management LLC bought a new position in Boston Scientific during the 4th quarter worth $26,000. Finally, Global Wealth Strategies & Associates lifted its holdings in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the period. 89.07% of the stock is currently 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.