Boston Scientific (NYSE:BSX) Price Target Raised to $50.00

Boston Scientific (NYSE:BSX) had its target price upped by Argus from $45.00 to $50.00 in a research note released on Monday morning, The Fly reports. Argus currently has a buy rating on the medical equipment provider’s stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company raised their price objective on Boston Scientific from $42.00 to $50.00 and gave the company an overweight rating in a research report on Thursday, April 29th. Barclays started coverage on Boston Scientific in a report on Monday, May 24th. They set an overweight rating and a $51.00 price target for the company. Truist lifted their price target on Boston Scientific from $42.00 to $50.00 in a report on Thursday, April 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Boston Scientific from $39.00 to $45.00 and gave the stock a hold rating in a report on Thursday, April 29th. Finally, Canaccord Genuity lifted their price target on Boston Scientific from $44.00 to $49.00 and gave the stock a buy rating in a report on Thursday, April 29th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $46.75.

BSX stock opened at $42.84 on Monday. Boston Scientific has a twelve month low of $32.99 and a twelve month high of $44.63. The company has a market capitalization of $60.87 billion, a P/E ratio of 428.40, a price-to-earnings-growth ratio of 2.86 and a beta of 0.88. The company has a 50 day moving average of $41.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.38 and a current ratio of 1.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Tuesday, April 27th. The medical equipment provider reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.06. Boston Scientific had a return on equity of 9.80% and a net margin of 1.69%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the firm posted $0.28 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that Boston Scientific will post 1.58 EPS for the current fiscal year.

In other news, EVP David A. Pierce sold 7,603 shares of Boston Scientific stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $39.36, for a total value of $299,254.08. Following the transaction, the executive vice president now owns 2,057 shares in the company, valued at approximately $80,963.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 9,676 shares of Boston Scientific stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $40.00, for a total value of $387,040.00. Following the completion of the transaction, the executive vice president now owns 39,074 shares in the company, valued at approximately $1,562,960. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,009 shares of company stock worth $9,309,362. Corporate insiders own 0.71% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. KB Financial Partners LLC bought a new stake in Boston Scientific during the 1st quarter worth $48,000. Advisory Services Network LLC grew its position in Boston Scientific by 48.2% during the 1st quarter. Advisory Services Network LLC now owns 10,754 shares of the medical equipment provider’s stock worth $416,000 after acquiring an additional 3,497 shares during the last quarter. Advisor Partners LLC grew its position in Boston Scientific by 1.3% during the 1st quarter. Advisor Partners LLC now owns 37,416 shares of the medical equipment provider’s stock worth $1,446,000 after acquiring an additional 477 shares during the last quarter. FormulaFolio Investments LLC bought a new stake in Boston Scientific during the 1st quarter worth $114,000. Finally, Schroder Investment Management Group grew its position in Boston Scientific by 10.4% during the 1st quarter. Schroder Investment Management Group now owns 425,673 shares of the medical equipment provider’s stock worth $16,452,000 after acquiring an additional 40,140 shares during the last quarter. Institutional investors own 89.74% of the company’s stock.

About Boston Scientific

Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.

Recommended Story: ESG Score

The Fly logo

Analyst Recommendations for Boston Scientific (NYSE:BSX)

Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.