Piper Sandler Increases Boston Scientific (NYSE:BSX) Price Target to $115.00

Boston Scientific (NYSE:BSX) had its price objective lifted by equities researchers at Piper Sandler from $95.00 to $115.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s target price would indicate a potential upside of 11.72% from the company’s current price.

A number of other research firms have also recently weighed in on BSX. Mizuho increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Raymond James boosted their target price on Boston Scientific from $101.00 to $119.00 and gave the stock a “strong-buy” rating in a research note on Friday. Finally, Stifel Nicolaus increased their price target on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. One 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, the stock currently has a consensus rating of “Buy” and an average target price of $100.39.

Boston Scientific Trading Up 0.6 %

Boston Scientific stock traded up $0.58 during mid-day trading on Monday, hitting $102.94. The company’s stock had a trading volume of 1,299,408 shares, compared to its average volume of 5,666,748. The stock’s fifty day moving average is $93.47 and its two-hundred day moving average is $86.33. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $151.71 billion, a PE ratio of 85.18, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. Boston Scientific has a 1 year low of $64.08 and a 1 year high of $104.25.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department acquired a new stake in shares of Boston Scientific during the 4th quarter worth approximately $415,000. Highland Capital Management LLC bought a new position in Boston Scientific during the 4th quarter worth $4,887,000. Brookstone Capital Management grew its position in shares of Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after acquiring an additional 20,307 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. boosted its stake in Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after purchasing an additional 4,702 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

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.