Boston Scientific (NYSE:BSX) PT Raised to $50.00 at Piper Sandler

Boston Scientific (NYSE:BSXGet Rating) had its target price increased by equities research analysts at Piper Sandler from $47.00 to $50.00 in a report issued on Friday, The Fly reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s price objective suggests a potential upside of 16.44% from the company’s current price.

Several other equities analysts have also recently issued reports on BSX. Morgan Stanley dropped their price objective on shares of Boston Scientific from $51.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, July 15th. Canaccord Genuity Group lowered their price target on shares of Boston Scientific from $51.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. Needham & Company LLC raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Friday, May 27th. Canaccord Genuity Group upped their price target on shares of Boston Scientific from $43.00 to $45.00 in a research note on Thursday, July 28th. Finally, Citigroup lowered their price target on shares of Boston Scientific from $52.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, May 17th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $46.83.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $42.94 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.86. The stock has a market capitalization of $61.39 billion, a price-to-earnings ratio of 74.03, a PEG ratio of 2.31 and a beta of 0.85. The firm’s fifty day simple moving average is $40.06 and its 200-day simple moving average is $40.98. Boston Scientific has a 12 month low of $34.98 and a 12 month high of $47.49.

Boston Scientific (NYSE:BSXGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The medical equipment provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Boston Scientific had a net margin of 7.16% and a return on equity of 14.58%. Boston Scientific’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. As a group, equities analysts forecast that Boston Scientific will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 7,500 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $42.03, for a total value of $315,225.00. Following the transaction, the executive vice president now directly owns 117,413 shares in the company, valued at approximately $4,934,868.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 7,500 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $42.03, for a total value of $315,225.00. Following the transaction, the executive vice president now directly owns 117,413 shares in the company, valued at approximately $4,934,868.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Nelda J. Connors sold 16,088 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $41.58, for a total transaction of $668,939.04. Following the completion of the transaction, the director now owns 4,877 shares in the company, valued at $202,785.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,264 shares of company stock worth $2,401,673. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BSX. Norges Bank acquired a new position in shares of Boston Scientific during the 4th quarter valued at about $563,108,000. Newport Trust Co increased its stake in shares of Boston Scientific by 5,082.5% during the 2nd quarter. Newport Trust Co now owns 7,401,817 shares of the medical equipment provider’s stock valued at $275,866,000 after acquiring an additional 7,258,993 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Boston Scientific by 572.2% during the 4th quarter. Marshall Wace LLP now owns 6,357,680 shares of the medical equipment provider’s stock valued at $270,075,000 after acquiring an additional 5,411,822 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Boston Scientific by 24.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 20,806,144 shares of the medical equipment provider’s stock valued at $775,455,000 after acquiring an additional 4,088,589 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Boston Scientific by 23.6% during the 2nd quarter. Lazard Asset Management LLC now owns 12,653,052 shares of the medical equipment provider’s stock valued at $471,578,000 after acquiring an additional 2,416,974 shares during the last quarter. Institutional investors and hedge funds own 90.33% of the company’s stock.

About Boston Scientific

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Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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