Morgan Stanley Forecasts Strong Price Appreciation for Boston Scientific (NYSE:BSX) Stock

Boston Scientific (NYSE:BSX) had its price target boosted by equities research analysts at Morgan Stanley from $120.00 to $125.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. Morgan Stanley’s price target suggests a potential upside of 17.92% from the stock’s current price.

BSX has been the subject of a number of other reports. Argus set a $130.00 price target on shares of Boston Scientific in a report on Tuesday, February 18th. Needham & Company LLC increased their target price on Boston Scientific from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Piper Sandler raised their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Finally, Royal Bank of Canada increased their price objective on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Twenty-three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $114.74.

Boston Scientific Stock Up 1.1%

BSX stock opened at $106.00 on Friday. The firm has a market cap of $156.83 billion, a PE ratio of 84.80, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific has a 1 year low of $71.88 and a 1 year high of $107.17. The company has a fifty day simple moving average of $99.18 and a 200 day simple moving average of $96.66. 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 (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. Sell-side analysts anticipate that Boston Scientific will post 2.85 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Bradley Sorenson sold 2,657 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $104.41, for a total transaction of $277,417.37. Following the transaction, the executive vice president now owns 24,294 shares of the company’s stock, valued at approximately $2,536,536.54. This represents a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 265,820 shares of company stock valued at $27,406,958 over the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $1,762,522,000. Capital World Investors increased its stake in shares of Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock worth $2,492,041,000 after purchasing an additional 6,216,199 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after purchasing an additional 3,344,571 shares during the period. GAMMA Investing LLC lifted its stake in Boston Scientific by 11,720.3% in the 1st quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider’s stock valued at $260,057,000 after purchasing an additional 2,556,078 shares during the last quarter. Finally, Axiom Investors LLC DE lifted its stake in Boston Scientific by 208.2% in the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock valued at $335,167,000 after purchasing an additional 2,535,007 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

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.