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

Boston Scientific (NYSE:BSX - Free Report) had its target price upped by Barclays from $118.00 to $125.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the medical equipment provider's stock.

A number of other equities research analysts have also weighed in on BSX. Robert W. Baird lifted their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Wells Fargo & Company boosted their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Truist Financial boosted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Raymond James boosted their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a report on Thursday, February 6th. Finally, Citigroup boosted their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Twenty-three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $114.52.

Boston Scientific Trading Down 0.5 %

BSX traded down $0.50 on Friday, reaching $102.24. 1,713,993 shares of the company traded hands, compared to its average volume of 6,329,097. Boston Scientific has a one year low of $70.97 and a one year high of $107.17. The firm has a fifty day simple moving average of $98.56 and a two-hundred day simple moving average of $95.08. The company has a market cap of $151.22 billion, a P/E ratio of 81.79, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter last year, the business posted $0.56 EPS. The firm's revenue for the quarter was up 20.9% on a year-over-year basis. As a group, equities research analysts expect that Boston Scientific will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares of the company's stock, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares of the company's stock, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,009 shares of company stock valued at $14,407,381. 0.50% of the stock is owned by company insiders.

Institutional Trading of Boston Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock valued at $11,869,805,000 after buying an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Boston Scientific by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after buying an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Boston Scientific by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock valued at $2,729,371,000 after buying an additional 1,041,329 shares during the last quarter. Capital World Investors raised its stake in shares of Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Boston Scientific by 2.5% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock valued at $1,992,994,000 after buying an additional 554,388 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

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.