Boston Scientific (NYSE:BSX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Boston Scientific (NYSE:BSX) had its target price lifted by Morgan Stanley from $120.00 to $125.00 in a research note published on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the medical equipment provider’s stock.

Several other equities analysts have also recently weighed in on BSX. Citigroup lifted their price objective on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC lifted their price objective on Boston Scientific from $113.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Stifel Nicolaus lifted their price objective on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Twenty-three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and a consensus target price of $114.74.

Boston Scientific Price Performance

Shares of BSX opened at $106.00 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific has a 1 year low of $71.88 and a 1 year high of $107.17. The stock has a market cap of $156.83 billion, a P/E ratio of 84.80, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The stock’s 50-day moving average price is $99.18 and its two-hundred day moving average price is $96.74.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter last year, the business earned $0.56 earnings per share. The company’s revenue was up 20.9% compared to the same quarter last year. On average, equities analysts predict that Boston Scientific will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. The trade was a 14.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president now directly owns 18,705 shares in the company, valued at $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 265,820 shares of company stock valued at $27,406,958 in the last 90 days. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BSX. Capital Investment Advisors LLC increased its holdings in shares of Boston Scientific by 12.2% during the 4th quarter. Capital Investment Advisors LLC now owns 2,899 shares of the medical equipment provider’s stock worth $259,000 after acquiring an additional 315 shares during the last quarter. Accurate Wealth Management LLC bought a new stake in Boston Scientific in the 4th quarter valued at $228,000. Kathmere Capital Management LLC boosted its stake in Boston Scientific by 29.7% in the 4th quarter. Kathmere Capital Management LLC now owns 4,510 shares of the medical equipment provider’s stock valued at $403,000 after purchasing an additional 1,034 shares during the period. Park Avenue Securities LLC boosted its stake in Boston Scientific by 12.0% in the 4th quarter. Park Avenue Securities LLC now owns 12,869 shares of the medical equipment provider’s stock valued at $1,149,000 after purchasing an additional 1,381 shares during the period. Finally, Burney Co. boosted its stake in Boston Scientific by 15.3% in the 4th quarter. Burney Co. now owns 10,192 shares of the medical equipment provider’s stock valued at $910,000 after purchasing an additional 1,350 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

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.