Boston Scientific (NYSE:BSX) Given New $120.00 Price Target at Morgan Stanley

Boston Scientific (NYSE:BSX) had its price objective lifted by Morgan Stanley from $100.00 to $120.00 in a research note published on Thursday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the medical equipment provider’s stock.

BSX has been the topic of a number of other reports. BTIG Research increased their target price on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Raymond James increased their price objective on shares of Boston Scientific from $101.00 to $119.00 and gave the company a “strong-buy” rating in a research report on Friday, January 31st. Piper Sandler lifted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company raised their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $104.26.

Boston Scientific Stock Up 0.0 %

NYSE:BSX opened at $105.01 on Thursday. Boston Scientific has a 1-year low of $64.39 and a 1-year high of $107.17. The company has a market capitalization of $154.76 billion, a PE ratio of 86.78, a P/E/G ratio of 2.68 and a beta of 0.80. The firm’s 50-day moving average price is $94.30 and its 200-day moving average price is $86.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. On average, equities analysts predict that Boston Scientific will post 2.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,302 shares of company stock worth $4,464,725. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently modified their holdings of the stock. TFC Financial Management Inc. boosted its holdings in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. Values First Advisors Inc. bought a new position in Boston Scientific during the third quarter valued at approximately $28,000. Dunhill Financial LLC grew its holdings in Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 152 shares in the last quarter. Global Wealth Strategies & Associates increased its stake in Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares during the last quarter. Finally, West Oak Capital LLC purchased a new stake in shares of Boston Scientific during the 4th quarter worth approximately $29,000. Institutional investors own 89.07% of the company’s stock.

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.