Analysts Set Boston Scientific Corporation (NYSE:BSX) Price Target at $123.89

Boston Scientific Corporation (NYSE:BSX) has received a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are currently covering the stock, MarketBeat reports. Two 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 company. The average 1-year price objective among brokerages that have covered the stock in the last year is $123.8947.

A number of research firms have issued reports on BSX. Royal Bank Of Canada raised their target price on Boston Scientific from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. BTIG Research reaffirmed a “buy” rating and set a $132.00 target price on shares of Boston Scientific in a research note on Friday, November 21st. Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. TD Cowen reissued a “buy” rating on shares of Boston Scientific in a report on Thursday, December 11th. Finally, Truist Financial lowered their target price on shares of Boston Scientific from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th.

Insider Activity at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the sale, the executive vice president owned 178,342 shares of the company’s stock, valued at $17,739,678.74. The trade was a 21.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.55, for a total value of $1,758,135.15. Following the completion of the sale, the executive vice president owned 23,600 shares of the company’s stock, valued at $2,396,580. This trade represents a 42.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 83,105 shares of company stock worth $8,295,161 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently bought and sold shares of BSX. State Street Corp increased its stake in shares of Boston Scientific by 1.1% in the second quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock worth $7,002,258,000 after acquiring an additional 713,379 shares during the last quarter. Synergy Asset Management LLC raised its position in Boston Scientific by 3,493.0% during the third quarter. Synergy Asset Management LLC now owns 493,323 shares of the medical equipment provider’s stock valued at $48,297,000 after acquiring an additional 479,593 shares in the last quarter. Gladstone Institutional Advisory LLC raised its position in Boston Scientific by 39.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 51,884 shares of the medical equipment provider’s stock valued at $5,065,000 after acquiring an additional 14,700 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Boston Scientific by 75.3% in the second quarter. Bank Pictet & Cie Europe AG now owns 164,654 shares of the medical equipment provider’s stock valued at $17,685,000 after acquiring an additional 70,753 shares during the last quarter. Finally, Channel Wealth LLC grew its position in Boston Scientific by 70.8% in the third quarter. Channel Wealth LLC now owns 28,577 shares of the medical equipment provider’s stock worth $2,790,000 after acquiring an additional 11,847 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Up 1.4%

Shares of Boston Scientific stock opened at $92.56 on Friday. The stock has a market capitalization of $137.22 billion, a price-to-earnings ratio of 49.50, a PEG ratio of 1.68 and a beta of 0.67. Boston Scientific has a twelve month low of $85.98 and a twelve month high of $109.50. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The business’s 50 day simple moving average is $95.70 and its 200-day simple moving average is $99.83.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.