Raymond James Issues Positive Forecast for Boston Scientific (NYSE:BSX) Stock Price

Boston Scientific (NYSE:BSX) had its target price raised by Raymond James from $119.00 to $122.00 in a research report report published on Thursday morning,Benzinga reports. Raymond James currently has a strong-buy rating on the medical equipment provider’s stock.

A number of other research analysts also recently issued reports on BSX. Wells Fargo & Company boosted their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Truist Financial lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boston Scientific presently has an average rating of “Buy” and a consensus price target of $104.26.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $105.01 on Thursday. 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 company has a 50-day moving average price of $94.30 and a 200-day moving average price of $86.84. The company has a market cap of $154.76 billion, a price-to-earnings ratio of 86.78, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. Boston Scientific has a 12 month low of $64.39 and a 12 month high of $107.17.

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

Insider Transactions at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares in the company, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,302 shares of company stock worth $4,464,725 over the last quarter. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently made changes to their positions in BSX. Ethos Financial Group LLC bought a new position in Boston Scientific in the fourth quarter worth approximately $122,000. Inceptionr LLC bought a new position in Boston Scientific in the 4th quarter worth $679,000. Raymond James Financial Inc. purchased a new position in Boston Scientific during the fourth quarter valued at $190,780,000. Dana Investment Advisors Inc. grew its holdings in Boston Scientific by 10.5% during the fourth quarter. Dana Investment Advisors Inc. now owns 338,648 shares of the medical equipment provider’s stock valued at $30,248,000 after purchasing an additional 32,308 shares during the period. Finally, Arizona State Retirement System grew its holdings in Boston Scientific by 1.1% during the fourth quarter. Arizona State Retirement System now owns 425,982 shares of the medical equipment provider’s stock valued at $38,049,000 after purchasing an additional 4,446 shares during the period. Hedge funds and other 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.