Wells Fargo & Company Forecasts Strong Price Appreciation for Boston Scientific (NYSE:BSX) Stock

Boston Scientific (NYSE:BSX) had its price target increased by investment analysts at Wells Fargo & Company from $100.00 to $118.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 12.17% from the company’s current price.

Several other analysts also recently weighed in on BSX. Piper Sandler boosted their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday. Raymond James increased their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Finally, BTIG Research raised their price target on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $102.70.

Boston Scientific Trading Up 0.2 %

Shares of Boston Scientific stock traded up $0.23 on Thursday, reaching $105.20. 1,367,590 shares of the company’s stock were exchanged, compared to its average volume of 6,066,163. The company has a market capitalization of $155.04 billion, a P/E ratio of 86.81, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. Boston Scientific has a 52 week low of $64.39 and a 52 week high of $107.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The firm’s 50-day moving average is $94.30 and its two-hundred day moving average is $86.84.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping 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%. Sell-side analysts predict that Boston Scientific will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,302 shares of company stock valued at $4,464,725. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Hedge funds and other institutional investors have recently modified their holdings of the business. Atomi Financial Group Inc. boosted its stake in Boston Scientific by 13.7% in the third quarter. Atomi Financial Group Inc. now owns 8,266 shares of the medical equipment provider’s stock valued at $693,000 after acquiring an additional 997 shares in the last quarter. Brookstone Capital Management raised its holdings in Boston Scientific by 22.3% in the third quarter. Brookstone Capital Management now owns 85,553 shares of the medical equipment provider’s stock valued at $7,169,000 after buying an additional 15,608 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Boston Scientific in the third quarter worth about $326,000. Daymark Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the third quarter valued at approximately $281,000. Finally, Wedmont Private Capital boosted its position in Boston Scientific by 9.2% in the 3rd quarter. Wedmont Private Capital now owns 18,730 shares of the medical equipment provider’s stock valued at $1,581,000 after buying an additional 1,574 shares during the last quarter. 89.07% of the stock is 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.