Boston Scientific (NYSE:BSX) Hits New 12-Month High at $68.13

Boston Scientific Co. (NYSE:BSX)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $68.13 and last traded at $67.92, with a volume of 3002532 shares traded. The stock had previously closed at $67.29.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $65.00 to $80.00 in a report on Thursday, February 1st. Oppenheimer increased their price objective on Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, February 1st. Truist Financial increased their price objective on Boston Scientific from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. TD Cowen increased their price objective on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Finally, Royal Bank of Canada upped their target price on Boston Scientific from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $66.62.

Boston Scientific Stock Down 0.2 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $65.40 and a 200-day simple moving average of $58.12. The stock has a market capitalization of $100.69 billion, a price-to-earnings ratio of 64.02, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the company posted $0.45 earnings per share. On average, sell-side analysts forecast that Boston Scientific Co. will post 2.25 EPS for the current fiscal year.

Insider Activity

In other news, EVP Jeffrey B. Mirviss sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $58.40, for a total value of $876,000.00. Following the completion of the sale, the executive vice president now directly owns 56,588 shares in the company, valued at $3,304,739.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 15,172 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $59.25, for a total transaction of $898,941.00. Following the transaction, the executive vice president now owns 56,588 shares of the company’s stock, valued at approximately $3,352,839. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey B. Mirviss sold 15,000 shares of Boston Scientific stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $58.40, for a total value of $876,000.00. Following the transaction, the executive vice president now owns 56,588 shares of the company’s stock, valued at $3,304,739.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,460 shares of company stock worth $4,759,945. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of Boston Scientific

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after buying an additional 8,045,263 shares during the period. Vanguard Group Inc. increased its position in shares of Boston Scientific by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock valued at $7,252,253,000 after acquiring an additional 1,681,454 shares during the last quarter. State Street Corp increased its position in shares of Boston Scientific by 1.6% during the second quarter. State Street Corp now owns 63,191,897 shares of the medical equipment provider’s stock valued at $3,418,050,000 after acquiring an additional 982,853 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Boston Scientific by 5.9% during the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after acquiring an additional 2,336,348 shares during the last quarter. Finally, Primecap Management Co. CA increased its position in Boston Scientific by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after buying an additional 550,490 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

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.