Piper Sandler Reaffirms Buy Rating for Boston Scientific (NYSE:BSX)

Piper Sandler restated their buy rating on shares of Boston Scientific (NYSE:BSX) in a research note published on Tuesday, Stock Target Advisor reports.

Other analysts have also issued research reports about the company. Wells Fargo & Co upped their price objective on Boston Scientific from $48.00 to $52.00 and gave the company an overweight rating in a research note on Monday, December 16th. ValuEngine lowered Boston Scientific from a buy rating to a hold rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $50.00 to $55.00 and gave the company an overweight rating in a research note on Friday, December 20th. Needham & Company LLC lowered Boston Scientific from a strong-buy rating to a buy rating and set a $53.00 price objective on the stock. in a research note on Thursday, December 19th. Finally, Stephens set a $48.00 price objective on Boston Scientific and gave the company a buy rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $48.62.

NYSE:BSX traded up $0.97 during mid-day trading on Tuesday, hitting $44.17. The stock had a trading volume of 5,535,715 shares, compared to its average volume of 8,659,141. Boston Scientific has a twelve month low of $34.35 and a twelve month high of $46.62. The stock has a market cap of $59.46 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.08 and a beta of 0.78. The company’s 50 day simple moving average is $44.60 and its 200 day simple moving average is $42.41. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.14.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.68 billion. Boston Scientific had a return on equity of 23.10% and a net margin of 10.49%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. As a group, equities analysts forecast that Boston Scientific will post 1.57 earnings per share for the current year.

In other news, insider Williamson Scott bought 250,000 shares of the stock in a transaction dated Monday, November 4th. The shares were bought at an average price of $0.12 per share, for a total transaction of $30,000.00. Also, EVP Joseph Michael Fitzgerald sold 107,692 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $45.00, for a total value of $4,846,140.00. Following the transaction, the executive vice president now owns 200,685 shares in the company, valued at approximately $9,030,825. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,751 shares of company stock worth $8,680,501. 0.66% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in BSX. NuWave Investment Management LLC increased its stake in shares of Boston Scientific by 111.4% during the third quarter. NuWave Investment Management LLC now owns 721 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 380 shares during the period. Optimum Investment Advisors grew its position in Boston Scientific by 100.0% during the third quarter. Optimum Investment Advisors now owns 800 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 400 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in Boston Scientific during the second quarter worth approximately $34,000. Executive Wealth Management LLC grew its position in Boston Scientific by 58.8% during the third quarter. Executive Wealth Management LLC now owns 1,151 shares of the medical equipment provider’s stock worth $46,000 after buying an additional 426 shares in the last quarter. Finally, Evoke Wealth LLC acquired a new stake in Boston Scientific during the third quarter worth approximately $47,000. Institutional investors own 91.05% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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