Truist Financial Issues Positive Forecast for Boston Scientific (NYSE:BSX) Stock Price

Boston Scientific (NYSE:BSX) had its price target raised by Truist Financial from $113.00 to $117.00 in a report released on Thursday, MarketBeat Ratings reports. Truist Financial currently has a buy rating on the medical equipment provider’s stock.

Several other research firms have also commented on BSX. Robert W. Baird raised their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research report on Friday, January 10th. Morgan Stanley increased their price objective on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company raised their price target on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Raymond James increased their price objective on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $114.22.

Boston Scientific Trading Up 2.2 %

NYSE BSX opened at $101.13 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The company has a 50-day simple moving average of $98.75 and a 200-day simple moving average of $94.69. Boston Scientific has a one year low of $70.97 and a one year high of $107.17. The firm has a market capitalization of $149.58 billion, a PE ratio of 80.90, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, equities analysts forecast that Boston Scientific will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president now owns 36,193 shares of the company’s stock, valued at $3,441,592.37. This trade represents a 11.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the sale, the executive vice president now owns 5,502 shares in the company, valued at $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 three months, insiders sold 138,009 shares of company stock worth $14,407,381. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Colonial River Investments LLC purchased a new stake in Boston Scientific in the first quarter worth $214,000. Little House Capital LLC purchased a new position in shares of Boston Scientific during the 1st quarter valued at about $945,000. Sumitomo Mitsui Trust Group Inc. grew its position in Boston Scientific by 0.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,495,130 shares of the medical equipment provider’s stock valued at $352,589,000 after acquiring an additional 28,764 shares during the last quarter. BSW Wealth Partners lifted its holdings in shares of Boston Scientific by 7.1% in the 1st quarter. BSW Wealth Partners now owns 8,479 shares of the medical equipment provider’s stock worth $855,000 after acquiring an additional 559 shares during the last quarter. Finally, Jag Capital Management LLC grew its holdings in shares of Boston Scientific by 27.0% during the 1st quarter. Jag Capital Management LLC now owns 216,235 shares of the medical equipment provider’s stock valued at $21,814,000 after purchasing an additional 45,983 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.