Wells Fargo & Company Boosts Boston Scientific (NYSE:BSX) Price Target to $118.00

Boston Scientific (NYSE:BSX) had its price target raised by Wells Fargo & Company from $100.00 to $118.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

A number of other research firms also recently weighed in on BSX. Truist Financial upped their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Raymond James upped their price target on Boston Scientific from $101.00 to $119.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 31st. TD Cowen boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Morgan Stanley boosted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Buy” and an average price target of $104.26.

Boston Scientific Price Performance

Shares of BSX stock opened at $105.01 on Thursday. 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 firm has a market cap of $154.76 billion, a P/E ratio of 86.78, a P/E/G ratio of 2.68 and a beta of 0.80. The business’s 50 day moving average price is $94.30 and its 200-day moving average price is $86.84. Boston Scientific has a fifty-two week low of $64.39 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate 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, equities research analysts anticipate that Boston Scientific will post 2.46 earnings per share for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the transaction, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares in the company, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,302 shares of company stock worth $4,464,725 over the last quarter. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Boston Scientific by 4.4% during 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 acquiring an additional 173,034 shares during the period. Mechanics Bank Trust Department purchased a new stake in Boston Scientific in the fourth quarter worth about $415,000. Highland Capital Management LLC bought a new position in shares of Boston Scientific in the fourth quarter worth about $4,887,000. Brookstone Capital Management lifted its position in shares of Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after buying an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. lifted its holdings in Boston Scientific by 31.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after purchasing an additional 4,702 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.