Brokerages set price target for Boston Scientific Co. (NYSE:BSX) at $84.76

Shares of Boston Scientific Co. (NYSE:BSX – Get Your Free Report ) has received a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $84.76.

A number of research analysts have recently commented on BSX shares. UBS Group boosted their price target on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Truist Financial boosted their price objective on shares of Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Goldman Sachs Group assumed coverage on shares of Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 price target for the company. Raymond James upped their target price on shares of Boston Scientific from $85.00 to $91.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 price objective on shares of Boston Scientific in a research note on Thursday, July 25th.

Check out the latest stock report on BSX

Insider buying and selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, the executive vice president now owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. The disclosure for this sale can be found here. Insiders sold 34,960 shares of company stock worth $2,638,984 in the last quarter. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

Institutional investors have recently modified their holdings of the company. Eagle Bay Advisors LLC raised its position in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares during the period. First Foundation Advisors bought a new stake in shares of Boston Scientific in the first quarter valued at $25,000. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific in the second quarter valued at approximately $26,000. Andra AP fonden bought a new position in shares of Boston Scientific in the second quarter valued at approximately $29,000. Finally, RiverPark Advisors LLC purchased a new position in Boston Scientific in the first quarter valued at about $30,000. 89.07% of the shares are currently held by hedge funds and other institutional investors.

Boston Scientific Price Performance

BSX opened at $78.25 on Friday. The firm has a market cap of $114.80 billion, a P/E ratio of 65.76, a PEG ratio of 2.49 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14, and a current ratio of 1.66. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $79.43. The firm has a 50-day moving average of $76.41 and a 200-day moving average of $72.01.

Boston Scientific (NYSE:BSX – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. In the same quarter last year, the business posted EPS of $0.53. On average, research analysts expect that Boston Scientific will post 2.4 EPS for the current year.

Boston Scientific Company Profile

(Get a free report

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 for the diagnosis and treatment of gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, electrocautery-enhanced stents and delivery systems, direct visualization systems, digital catheters and single-use duodenoscopes; devices for the treatment of urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, disposable flexible digital ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber and hydrogel systems; and devices for the treatment of neurological movement disorders and chronic pain management, such as the spinal cord stimulation system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools and the deep stimulation system the brain.

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