TD Cowen Issues Positive Forecast for Boston Scientific (NYSE:BSX) Stock Price

Boston Scientific (NYSE:BSX) had its price objective lifted by TD Cowen from $100.00 to $110.00 in a report published on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the medical equipment provider’s stock.

BSX has been the subject of several other reports. Royal Bank of Canada raised their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Stifel Nicolaus raised their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Barclays raised their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. BTIG Research raised their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company raised their target price on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.43.

Boston Scientific Price Performance

NYSE BSX opened at $90.42 on Thursday. The business has a 50 day simple moving average of $87.87 and a 200 day simple moving average of $81.67. Boston Scientific has a 52-week low of $54.95 and a 52-week high of $91.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The stock has a market cap of $133.26 billion, a price-to-earnings ratio of 74.73, a PEG ratio of 2.67 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the business earned $0.50 EPS. Boston Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. Analysts anticipate that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 16.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock valued at $27,957,676 over the last ninety days. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after buying an additional 173,034 shares during the last quarter. Brookstone Capital Management raised its position in Boston Scientific by 389.1% in the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after buying an additional 55,645 shares during the last quarter. HWG Holdings LP purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at $482,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Boston Scientific by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock valued at $289,675,000 after purchasing an additional 30,636 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Boston Scientific by 153.5% during the 3rd quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock valued at $16,541,000 after purchasing an additional 119,525 shares during the last quarter. 89.07% of the stock is 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.