Raymond James Issues Positive Forecast for Boston Scientific (NYSE:BSX) Stock Price

Boston Scientific (NYSE:BSX) had its target price raised by research analysts at Raymond James from $101.00 to $119.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the medical equipment provider’s stock. Raymond James’ price target suggests a potential upside of 15.24% from the company’s previous close.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Truist Financial boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Canaccord Genuity Group boosted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.35.

Boston Scientific Trading Up 0.2 %

Shares of NYSE:BSX traded up $0.22 during mid-day trading on Friday, hitting $103.26. The stock had a trading volume of 1,862,363 shares, compared to its average volume of 5,669,373. Boston Scientific has a 12-month low of $62.63 and a 12-month high of $104.25. 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 company has a market cap of $152.19 billion, a PE ratio of 85.35, a P/E/G ratio of 2.69 and a beta of 0.80. The company’s 50 day moving average is $93.22 and its 200-day moving average is $86.04.

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were 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 in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,989 shares of company stock worth $2,702,261. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BSX. Sunbelt Securities Inc. lifted its stake in Boston Scientific by 85.8% in the second quarter. Sunbelt Securities Inc. now owns 1,213 shares of the medical equipment provider’s stock worth $93,000 after acquiring an additional 560 shares during the period. Quarry LP purchased a new stake in Boston Scientific in the second quarter worth $33,000. Truist Financial Corp lifted its stake in Boston Scientific by 1.1% in the second quarter. Truist Financial Corp now owns 214,594 shares of the medical equipment provider’s stock worth $16,526,000 after acquiring an additional 2,254 shares during the period. Cetera Investment Advisers lifted its stake in Boston Scientific by 2.9% in the second quarter. Cetera Investment Advisers now owns 295,984 shares of the medical equipment provider’s stock worth $22,794,000 after acquiring an additional 8,399 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in Boston Scientific in the second quarter worth $5,349,000. Institutional investors 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.