Truist Financial Increases Boston Scientific (NYSE:BSX) Price Target to $90.00

Boston Scientific (NYSE:BSX) had its price target hoisted by equities research analysts at Truist Financial from $86.00 to $90.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price target suggests a potential upside of 16.25% from the stock’s current price.

A number of other research firms have also recently commented on BSX. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Friday, July 12th. JPMorgan Chase & Co. increased their price target on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Barclays upped their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Evercore ISI lifted their price target on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Finally, UBS Group upped their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.29.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $77.42 on Tuesday. The business’s 50 day moving average price is $76.10 and its 200 day moving average price is $69.49. The company has a market cap of $113.58 billion, a price-to-earnings ratio of 65.06, a PEG ratio of 2.68 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 one year low of $48.35 and a one year high of $78.98.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. On average, research analysts predict that Boston Scientific will post 2.32 EPS for the current year.

Insider Transactions at Boston Scientific

In related news, Director Edward J. Ludwig sold 9,818 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the sale, the director now owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the transaction, the director now owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the sale, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,259 shares of company stock valued at $5,344,014. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Boston Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. Eagle Bay Advisors LLC grew its position in shares of Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. First Foundation Advisors purchased a new position in shares of Boston Scientific during the first quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $28,000. RiverPark Advisors LLC purchased a new stake in shares of Boston Scientific in the 1st quarter valued at about $30,000. Finally, Lynx Investment Advisory acquired a new stake in shares of Boston Scientific in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Company Profile

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.