Brokerages Set Boston Scientific Co. (NYSE:BSX) PT at $116.00

Shares of Boston Scientific Co. (NYSE:BSX) have been given a consensus recommendation of “Buy” by the twenty-three ratings firms that are presently covering the stock, Marketbeat reports. Twenty-one research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $116.09.

A number of research firms have recently weighed in on BSX. Barclays increased their price target on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Citigroup restated a “buy” rating and set a $125.00 target price (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Finally, Truist Financial raised their target price on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 24th.

Insider Buying and Selling

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the sale, the chief executive officer now owns 1,535,706 shares of the company’s stock, valued at approximately $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock valued at $42,406,693 over the last quarter. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Several large investors have recently bought and sold shares of BSX. 1248 Management LLC purchased a new stake in shares of Boston Scientific in the first quarter valued at $26,000. Y.D. More Investments Ltd purchased a new position in Boston Scientific during the first quarter worth about $27,000. Investment Management Corp VA ADV purchased a new position in Boston Scientific during the fourth quarter worth about $25,000. Colonial Trust Co SC lifted its position in Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 260 shares during the period. Finally, TFC Financial Management Inc. lifted its position in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Up 1.8%

Shares of BSX stock opened at $101.49 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The company has a market cap of $150.15 billion, a price-to-earnings ratio of 81.19, a PEG ratio of 2.79 and a beta of 0.68. The stock has a 50 day simple moving average of $101.25 and a 200-day simple moving average of $98.87. Boston Scientific has a 1-year low of $71.88 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the company posted $0.56 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. On average, equities research analysts expect that Boston Scientific will post 2.85 EPS for the current fiscal year.

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.