Boston Scientific Co. (NYSE:BSX) Receives $46.83 Consensus Price Target from Analysts

Shares of Boston Scientific Co. (NYSE:BSXGet Rating) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $46.83.

BSX has been the subject of a number of recent research reports. TheStreet upgraded shares of Boston Scientific from a “c+” rating to a “b-” rating in a research note on Wednesday, August 24th. Morgan Stanley reduced their price objective on shares of Boston Scientific from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, July 15th. Piper Sandler increased their price objective on shares of Boston Scientific from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, September 9th. BTIG Research increased their price objective on shares of Boston Scientific from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Finally, Canaccord Genuity Group increased their price objective on shares of Boston Scientific from $43.00 to $45.00 in a research note on Thursday, July 28th.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 7,500 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $42.21, for a total value of $316,575.00. Following the transaction, the executive vice president now directly owns 109,913 shares of the company’s stock, valued at approximately $4,639,427.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Boston Scientific news, Director Nelda J. Connors sold 16,088 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $41.58, for a total value of $668,939.04. Following the transaction, the director now directly owns 4,877 shares of the company’s stock, valued at approximately $202,785.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 7,500 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $42.21, for a total transaction of $316,575.00. Following the completion of the transaction, the executive vice president now directly owns 109,913 shares in the company, valued at $4,639,427.73. The disclosure for this sale can be found here. Insiders have sold a total of 59,264 shares of company stock valued at $2,433,248 in the last three months. 0.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Siemens Fonds Invest GmbH increased its holdings in shares of Boston Scientific by 1.2% during the fourth quarter. Siemens Fonds Invest GmbH now owns 19,719 shares of the medical equipment provider’s stock worth $848,000 after purchasing an additional 235 shares during the period. Strengthening Families & Communities LLC increased its holdings in shares of Boston Scientific by 3.1% during the second quarter. Strengthening Families & Communities LLC now owns 8,483 shares of the medical equipment provider’s stock worth $375,000 after purchasing an additional 256 shares during the period. Flputnam Investment Management Co. increased its holdings in shares of Boston Scientific by 5.2% during the first quarter. Flputnam Investment Management Co. now owns 5,336 shares of the medical equipment provider’s stock worth $236,000 after purchasing an additional 266 shares during the period. AdvisorNet Financial Inc increased its holdings in shares of Boston Scientific by 1.7% during the first quarter. AdvisorNet Financial Inc now owns 16,694 shares of the medical equipment provider’s stock worth $739,000 after purchasing an additional 275 shares during the period. Finally, Tufton Capital Management increased its holdings in shares of Boston Scientific by 1.9% during the first quarter. Tufton Capital Management now owns 14,695 shares of the medical equipment provider’s stock worth $650,000 after purchasing an additional 275 shares during the period. 90.33% of the stock is owned by institutional investors.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $39.30 on Friday. The firm has a market cap of $56.18 billion, a PE ratio of 67.76, a PEG ratio of 2.19 and a beta of 0.85. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.51. Boston Scientific has a 1-year low of $34.98 and a 1-year high of $47.49. The company has a fifty day moving average price of $40.77 and a 200 day moving average price of $40.84.

Boston Scientific (NYSE:BSXGet Rating) last announced its earnings results on Wednesday, July 27th. The medical equipment provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.22 billion. Boston Scientific had a net margin of 7.16% and a return on equity of 14.58%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 EPS. Research analysts predict that Boston Scientific will post 1.76 earnings per share for the current fiscal year.

Boston Scientific Company Profile

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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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