Boston Scientific’s (BSX) Buy Rating Reaffirmed at BTIG Research

BTIG Research reissued their buy rating on shares of Boston Scientific (NYSE:BSX) in a research note published on Friday,Benzinga reports. The brokerage currently has a $132.00 price target on the medical equipment provider’s stock.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Boston Scientific in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Wells Fargo & Company upped their price target on shares of Boston Scientific from $124.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Erste Group Bank cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Oppenheimer raised shares of Boston Scientific from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $118.00 to $125.00 in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and an average target price of $123.77.

Boston Scientific Trading Up 0.2%

NYSE:BSX traded up $0.17 during trading hours on Friday, reaching $96.77. The company’s stock had a trading volume of 13,388,268 shares, compared to its average volume of 8,043,485. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. The firm has a market capitalization of $143.46 billion, a price-to-earnings ratio of 51.75, a PEG ratio of 2.02 and a beta of 0.58. The firm has a 50-day simple moving average of $98.97 and a 200-day simple moving average of $102.38. Boston Scientific has a 1 year low of $85.98 and a 1 year high of $109.50.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.97 billion. Boston Scientific had a return on equity of 19.74% and a net margin of 14.43%.The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. Research analysts expect that Boston Scientific will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $98.47, for a total value of $4,923,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares of the company’s stock, valued at $17,561,336.74. This represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ellen M. Zane sold 12,891 shares of Boston Scientific stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total value of $1,266,927.48. Following the sale, the director directly owned 24,134 shares in the company, valued at approximately $2,371,889.52. The trade was a 34.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 175,782 shares of company stock valued at $17,742,314 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BSX. Norges Bank purchased a new stake in Boston Scientific in the second quarter worth $2,089,937,000. Edgewood Management LLC purchased a new position in Boston Scientific during the second quarter valued at $746,655,000. Parnassus Investments LLC boosted its holdings in shares of Boston Scientific by 42,978.9% during the 3rd quarter. Parnassus Investments LLC now owns 6,884,440 shares of the medical equipment provider’s stock valued at $672,128,000 after buying an additional 6,868,459 shares in the last quarter. Egerton Capital UK LLP grew its position in shares of Boston Scientific by 223.7% in the 3rd quarter. Egerton Capital UK LLP now owns 5,312,504 shares of the medical equipment provider’s stock worth $518,660,000 after buying an additional 3,671,548 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Boston Scientific by 14,391.8% in the 2nd quarter. Bessemer Group Inc. now owns 2,919,801 shares of the medical equipment provider’s stock worth $313,618,000 after buying an additional 2,899,653 shares during the period. Institutional investors own 89.07% of the company’s stock.

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.