Brokerages Set Boston Scientific Co. (NYSE:BSX) PT at $68.14

Boston Scientific Co. (NYSE:BSX) has received an average recommendation of “Buy” from the twenty research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $68.50.

BSX has been the subject of several research reports. Truist Financial upped their price objective on shares of Boston Scientific from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Raymond James upped their price objective on shares of Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. Citigroup upped their price objective on shares of Boston Scientific from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Needham & Company LLC upped their price objective on shares of Boston Scientific from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, BTIG Research reissued a “buy” rating and issued a $64.00 price target on shares of Boston Scientific in a research note on Friday, December 29th.

Boston Scientific Stock Down 0.1 %

BSX opened at $67.33 on Friday. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $69.21. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $67.25 and a 200 day moving average price of $59.84. The company has a market cap of $98.78 billion, a PE ratio of 62.93, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. Sell-side analysts expect that Boston Scientific will post 2.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $66.35, for a total transaction of $463,322.05. Following the sale, the executive vice president now directly owns 53,788 shares in the company, valued at approximately $3,568,833.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock worth $3,418,529 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Boston Scientific by 5.6% in the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after purchasing an additional 27,620 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Boston Scientific in the 4th quarter valued at $5,116,000. Glenmede Trust Co. NA raised its holdings in shares of Boston Scientific by 12.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after purchasing an additional 1,123 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Boston Scientific by 2.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock valued at $98,683,000 after buying an additional 38,249 shares during the last quarter. Finally, HealthInvest Partners AB purchased a new position in shares of Boston Scientific in the 4th quarter valued at $3,746,000. 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.