Boston Scientific (NYSE:BSX) Given New $62.00 Price Target at Truist Financial

Boston Scientific (NYSE:BSX) had its price objective decreased by Truist Financial from $64.00 to $62.00 in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. Truist Financial currently has a buy rating on the medical equipment provider’s stock.

A number of other equities analysts also recently issued reports on BSX. Needham & Company LLC dropped their price target on Boston Scientific from $77.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Leerink Partners lowered their price objective on shares of Boston Scientific from $87.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, May 28th. Oppenheimer set a $90.00 target price on shares of Boston Scientific in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Robert W. Baird set a $70.00 price target on shares of Boston Scientific in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $79.84.

Boston Scientific Stock Up 3.6%

Shares of NYSE BSX opened at $44.58 on Thursday. Boston Scientific has a 52-week low of $42.20 and a 52-week high of $109.50. The firm has a market capitalization of $66.26 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 0.82 and a beta of 0.58. The stock has a 50 day moving average price of $48.38 and a 200 day moving average price of $66.02. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.79 by $0.01. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.19 billion. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.Boston Scientific’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. Boston Scientific has set its Q2 2026 guidance at 0.820-0.840 EPS and its FY 2026 guidance at 3.340-3.410 EPS. Sell-side analysts expect that Boston Scientific will post 3.36 earnings per share for the current year.

Boston Scientific declared that its board has approved a stock buyback program on Monday, May 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical equipment provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Cheryl Pegus acquired 1,770 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $56.49 per share, with a total value of $99,987.30. Following the completion of the transaction, the director directly owned 1,770 shares in the company, valued at $99,987.30. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward J. Ludwig bought 3,580 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $56.68 per share, for a total transaction of $202,914.40. Following the purchase, the director directly owned 25,359 shares of the company’s stock, valued at $1,437,348.12. The trade was a 16.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 9,800 shares of company stock worth $554,012 in the last three months. 0.34% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

Institutional investors have recently modified their holdings of the company. Simplify Asset Management Inc. lifted its position in Boston Scientific by 32.6% during the second quarter. Simplify Asset Management Inc. now owns 15,014 shares of the medical equipment provider’s stock valued at $641,000 after acquiring an additional 3,690 shares during the last quarter. Riversedge Advisors LLC acquired a new stake in Boston Scientific in the second quarter valued at approximately $320,000. CHICAGO TRUST Co NA grew its holdings in Boston Scientific by 9.7% in the second quarter. CHICAGO TRUST Co NA now owns 36,064 shares of the medical equipment provider’s stock worth $1,539,000 after purchasing an additional 3,177 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Boston Scientific by 3.9% during the second quarter. Linden Thomas Advisory Services LLC now owns 36,301 shares of the medical equipment provider’s stock worth $1,549,000 after purchasing an additional 1,371 shares in the last quarter. Finally, Courier Capital LLC increased its position in shares of Boston Scientific by 20.6% during the second quarter. Courier Capital LLC now owns 36,504 shares of the medical equipment provider’s stock worth $1,558,000 after purchasing an additional 6,246 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.