Citigroup Forecasts Strong Price Appreciation for Boston Scientific (NYSE:BSX) Stock

Boston Scientific (NYSE:BSX) had its price objective lifted by analysts at Citigroup from $107.00 to $122.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price target would indicate a potential upside of 16.25% from the stock’s current price.

BSX has been the subject of a number of other research reports. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Piper Sandler lifted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company increased their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Sanford C. Bernstein raised their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Cowen upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and an average price target of $101.91.

Boston Scientific Trading Up 1.4 %

Shares of Boston Scientific stock opened at $104.95 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $154.68 billion, a P/E ratio of 86.73, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. Boston Scientific has a 12-month low of $64.08 and a 12-month high of $107.17. The stock has a fifty day simple moving average of $94.30 and a 200 day simple moving average of $86.84.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. On average, sell-side analysts anticipate that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. This represents a 93.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,302 shares of company stock valued at $4,464,725. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Institutional investors and hedge funds have recently bought and sold shares of the stock. TFC Financial Management Inc. raised its position in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the period. Values First Advisors Inc. bought a new stake in Boston Scientific during the third quarter valued at about $28,000. Dunhill Financial LLC lifted its position in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares during the period. Finally, West Oak Capital LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $29,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.