Boston Scientific (NYSE:BSX) Given New $62.00 Price Target at Truist Financial

Boston Scientific (NYSE:BSX) had its price target reduced by Truist Financial from $64.00 to $62.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price objective would suggest a potential upside of 38.79% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Boston Scientific from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Bank of America reduced their price objective on shares of Boston Scientific from $105.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Needham & Company LLC decreased their price objective on shares of Boston Scientific from $77.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Canaccord Genuity Group lowered their target price on shares of Boston Scientific from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Finally, Mizuho dropped their target price on shares of Boston Scientific from $90.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $79.84.

Boston Scientific Trading Up 3.8%

NYSE:BSX traded up $1.63 during trading hours on Thursday, hitting $44.67. 6,988,711 shares of the company were exchanged, compared to its average volume of 17,974,990. The stock has a market capitalization of $66.40 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.82 and a beta of 0.58. Boston Scientific has a one year low of $42.20 and a one year high of $109.50. The company has a fifty day simple moving average of $48.62 and a 200 day simple moving average of $66.39. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.19 billion. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. Boston Scientific has set its Q2 2026 guidance at 0.820-0.840 EPS and its FY 2026 guidance at 3.340-3.410 EPS. Sell-side analysts expect that Boston Scientific will post 3.36 EPS for the current fiscal year.

Boston Scientific announced that its Board of Directors has approved a share buyback plan on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Edward J. Ludwig bought 3,580 shares of the stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $56.68 per share, with a total value of $202,914.40. Following the completion of the transaction, the director directly owned 25,359 shares of the company’s stock, valued at $1,437,348.12. This trade represents a 16.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David C. Habiger bought 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the acquisition, the director owned 13,878 shares in the company, valued at $776,057.76. This represents a 19.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 9,800 shares of company stock worth $554,012 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Group LLC purchased a new stake in Boston Scientific during the 4th quarter valued at $28,064,000. Rathbones Group PLC increased its position in shares of Boston Scientific by 20.9% in the fourth quarter. Rathbones Group PLC now owns 2,759,657 shares of the medical equipment provider’s stock valued at $263,133,000 after acquiring an additional 477,680 shares during the period. Tounjian Advisory Partners LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at about $1,477,000. Waycross Partners LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at about $2,384,000. Finally, Union Bancaire Privee UBP SA boosted its holdings in shares of Boston Scientific by 15.0% during the fourth quarter. Union Bancaire Privee UBP SA now owns 248,497 shares of the medical equipment provider’s stock worth $23,417,000 after purchasing an additional 32,425 shares during the period. 89.07% of the stock is owned by institutional investors.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.