Boston Scientific (NYSE:BSX) Price Target Raised to $130.00 at Truist Financial

Key Points

• Boston Scientific's stock price target has been raised by Truist Financial from $129.00 to $130.00, reflecting a potential upside of 25.26% from its current price.
• Despite a recent decline in share price to $103.78, Boston Scientific reported quarterly earnings of $0.75 per share, surpassing expectations, with a revenue of $5.07 billion for the quarter.
• Analyst ratings for Boston Scientific include two "Strong Buy," twenty-three "Buy," and two "Hold," indicating generally favorable market sentiment towards the company.

Boston Scientific (NYSE:BSX - Get Free Report) had its target price raised by analysts at Truist Financial from $129.00 to $130.00 in a report released on Thursday,Benzinga reports. The firm presently has a "buy" rating on the medical equipment provider's stock. Truist Financial's target price would suggest a potential upside of 25.26% from the stock's current price.

A number of other analysts have also commented on BSX. Evercore ISI restated an "outperform" rating on shares of Boston Scientific in a research note on Wednesday. Morgan Stanley boosted their price target on shares of Boston Scientific from $125.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday. Needham & Company LLC reiterated a "buy" rating and issued a $121.00 target price on shares of Boston Scientific in a research note on Friday, October 17th. Erste Group Bank lowered shares of Boston Scientific from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Finally, BTIG Research reiterated a "buy" rating and issued a $132.00 target price on shares of Boston Scientific in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $122.21.

Boston Scientific Price Performance

Shares of BSX traded down $0.07 during mid-day trading on Thursday, reaching $103.78. The company had a trading volume of 3,903,714 shares, compared to its average volume of 7,989,022. The company's 50 day simple moving average is $101.22 and its 200 day simple moving average is $101.85. Boston Scientific has a 1-year low of $80.64 and a 1-year high of $109.50. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. The company has a market capitalization of $153.78 billion, a price-to-earnings ratio of 61.86, a P/E/G ratio of 2.40 and a beta of 0.61.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The firm's quarterly revenue was up 20.3% compared to the same quarter last year. During the same period last year, the company posted $0.63 EPS. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. Analysts expect that Boston Scientific will post 2.85 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $98.47, for a total transaction of $4,923,500.00. Following the completion of the sale, the executive vice president directly owned 178,342 shares in the company, valued at $17,561,336.74. The trade was a 21.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 4,000 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $106.03, for a total transaction of $424,120.00. Following the transaction, the director owned 18,479 shares in the company, valued at $1,959,328.37. The trade was a 17.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,214 shares of company stock valued at $17,972,457 in the last three months. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BSX. Steph & Co. bought a new position in shares of Boston Scientific in the third quarter worth approximately $25,000. Financial Consulate Inc. bought a new position in shares of Boston Scientific in the third quarter worth approximately $25,000. 1248 Management LLC bought a new position in shares of Boston Scientific in the first quarter worth approximately $26,000. FWL Investment Management LLC bought a new position in shares of Boston Scientific in the second quarter worth approximately $26,000. Finally, Y.D. More Investments Ltd bought a new position in shares of Boston Scientific in the first quarter worth approximately $27,000. 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.

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