Boston Scientific (NYSE:BSX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Boston Scientific (NYSE:BSX) had its price target raised by Wells Fargo & Company from $98.00 to $100.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the medical equipment provider’s stock.

Other analysts have also issued reports about the company. Royal Bank of Canada boosted their price target on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein upped their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley lifted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, 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 report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.43.

Boston Scientific Trading Down 0.3 %

NYSE:BSX opened at $90.12 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The business’s 50-day simple moving average is $87.87 and its 200-day simple moving average is $81.67. Boston Scientific has a fifty-two week low of $54.95 and a fifty-two week high of $91.93. The stock has a market capitalization of $132.81 billion, a PE ratio of 74.73, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80.

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

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the transaction, the executive vice president now owns 29,308 shares in the company, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 328,157 shares of company stock worth $27,957,676. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

Several large investors have recently made changes to their positions in BSX. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific in the 2nd quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new stake in Boston Scientific in the third quarter valued at approximately $28,000. Dunhill Financial LLC grew its stake in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares during the last quarter. Andra AP fonden acquired a new position in shares of Boston Scientific during the second quarter worth $29,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Boston Scientific during the 3rd quarter valued at $30,000. Institutional investors and hedge funds 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.