Truist Financial Lowers Boston Scientific (NYSE:BSX) Price Target to $120.00

Boston Scientific (NYSE:BSX) had its price objective cut by research analysts at Truist Financial from $130.00 to $120.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price objective suggests a potential upside of 24.09% from the stock’s current price.

Several other brokerages also recently issued reports on BSX. UBS Group reaffirmed a “buy” rating on shares of Boston Scientific in a report on Wednesday. Leerink Partners boosted their target price on shares of Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Canaccord Genuity Group lowered their price target on shares of Boston Scientific from $132.00 to $131.00 and set a “buy” rating for the company in a report on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Boston Scientific in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Boston Scientific has an average rating of “Buy” and a consensus price target of $124.85.

Boston Scientific Price Performance

BSX stock traded up $2.22 during trading on Thursday, reaching $96.70. 1,501,639 shares of the company were exchanged, compared to its average volume of 8,160,278. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51. The stock’s 50 day moving average price is $98.66 and its 200 day moving average price is $101.37. Boston Scientific has a 52-week low of $85.98 and a 52-week high of $109.50. The company has a market cap of $143.36 billion, a P/E ratio of 51.67, a PEG ratio of 1.87 and a beta of 0.67.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The company’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 EPS. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS and its Q4 2025 guidance at 0.770-0.790 EPS. As a group, analysts predict that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the transaction, the executive vice president owned 178,342 shares of the company’s stock, valued at $17,739,678.74. This trade represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $101.55, for a total value of $1,758,135.15. Following the sale, the executive vice president owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. The trade was a 42.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 143,095 shares of company stock valued at $14,228,950. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Hedge funds have recently made changes to their positions in the business. FWL Investment Management LLC acquired a new stake in Boston Scientific in the 2nd quarter valued at $26,000. Sound Income Strategies LLC boosted its holdings in Boston Scientific by 90.9% in the 2nd quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 120 shares during the period. Steph & Co. acquired a new stake in Boston Scientific in the third quarter valued at approximately $25,000. Murphy & Mullick Capital Management Corp raised its stake in shares of Boston Scientific by 200.0% during the third quarter. Murphy & Mullick Capital Management Corp now owns 255 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 170 shares during the period. Finally, 1248 Management LLC acquired a new position in shares of Boston Scientific during the first quarter worth $26,000. 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.