Boston Scientific (NYSE:BSX) PT Raised to $48.00 at Morgan Stanley

Boston Scientific (NYSE:BSX) had its target price raised by stock analysts at Morgan Stanley from $45.00 to $48.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 24.45% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price target on shares of Boston Scientific in a report on Wednesday, June 24th. Piper Sandler restated a “buy” rating on shares of Boston Scientific in a research note on Thursday, April 2nd. Credit Suisse Group increased their price objective on Boston Scientific from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Oppenheimer boosted their target price on Boston Scientific from $41.00 to $43.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Goldman Sachs Group raised shares of Boston Scientific from a “neutral” rating to a “conviction-buy” rating and dropped their price target for the company from $46.00 to $38.00 in a report on Wednesday, April 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Boston Scientific currently has a consensus rating of “Buy” and a consensus price target of $44.71.

NYSE BSX opened at $38.57 on Thursday. Boston Scientific has a 12 month low of $24.10 and a 12 month high of $46.62. The company has a current ratio of 1.21, a quick ratio of 0.80 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average price is $36.11 and its 200-day moving average price is $37.19. The stock has a market cap of $53.97 billion, a P/E ratio of 13.68, a P/E/G ratio of 3.98 and a beta of 0.92.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.12. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Boston Scientific had a net margin of 39.18% and a return on equity of 13.68%. Boston Scientific’s revenue was down 23.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, analysts forecast that Boston Scientific will post 0.92 earnings per share for the current fiscal year.

In other Boston Scientific news, EVP David A. Pierce sold 2,170 shares of the firm’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $38.00, for a total transaction of $82,460.00. Following the sale, the executive vice president now owns 9,401 shares in the company, valued at approximately $357,238. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its holdings in Boston Scientific by 118.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 29,733,994 shares of the medical equipment provider’s stock valued at $970,220,000 after acquiring an additional 16,151,261 shares during the period. Viking Global Investors LP increased its stake in Boston Scientific by 72.1% in the 1st quarter. Viking Global Investors LP now owns 31,816,197 shares of the medical equipment provider’s stock worth $1,038,163,000 after acquiring an additional 13,324,535 shares during the last quarter. Wellington Management Group LLP raised its stake in Boston Scientific by 18.7% during the first quarter. Wellington Management Group LLP now owns 42,652,679 shares of the medical equipment provider’s stock valued at $1,391,757,000 after purchasing an additional 6,714,969 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Boston Scientific by 50.3% in the 1st quarter. Jennison Associates LLC now owns 17,067,819 shares of the medical equipment provider’s stock worth $556,923,000 after buying an additional 5,709,360 shares during the last quarter. Finally, Majedie Asset Management Ltd purchased a new stake in shares of Boston Scientific during the 1st quarter valued at about $126,800,000. 89.97% of the stock is owned by 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 three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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