Boston Scientific (NYSE:BSX) Sets New 52-Week High After Analyst Upgrade

Key Points

• Boston Scientific's stock hit a new 52-week high following an analyst upgrade from Oppenheimer, raising the price target from $118.00 to $125.00.
• Multiple research firms have upgraded Boston Scientific, with a consensus rating of "Buy" and an average price target of $117.79.
• Recent insider sales include 4,000 shares by Director Edward J. Ludwig, representing a 17.79% decrease in his ownership stake.

Boston Scientific Corporation (NYSE:BSX - Get Free Report)'s share price reached a new 52-week high on Tuesday after Oppenheimer upgraded the stock from a market perform rating to an outperform rating. Oppenheimer now has a $125.00 price target on the stock, up from their previous price target of $118.00. Boston Scientific traded as high as $109.42 and last traded at $108.45, with a volume of 282959 shares trading hands. The stock had previously closed at $108.14.

Several other research firms have also recently issued reports on BSX. Morgan Stanley boosted their target price on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Robert W. Baird lifted their price objective on Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a report on Monday, July 21st. Royal Bank Of Canada reiterated an "outperform" rating on shares of Boston Scientific in a report on Thursday, July 24th. Finally, Truist Financial increased their price target on Boston Scientific from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Boston Scientific currently has a consensus rating of "Buy" and a consensus target price of $117.79.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig sold 4,000 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the completion of the sale, the director directly owned 18,479 shares in the company, valued at $1,959,328.37. This trade represents a 17.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yoshiaki Fujimori sold 2,901 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total value of $310,377.99. Following the sale, the director owned 2,081 shares of the company's stock, valued at $222,646.19. This represents a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,214 shares of company stock valued at $18,397,457 over the last ninety days. Insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Boston Scientific

Hedge funds have recently bought and sold shares of the company. NS Partners Ltd boosted its stake in Boston Scientific by 1.6% in the first quarter. NS Partners Ltd now owns 368,189 shares of the medical equipment provider's stock valued at $37,143,000 after acquiring an additional 5,704 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after acquiring an additional 21,173 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Boston Scientific by 18.8% in the first quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock valued at $3,987,000 after acquiring an additional 6,264 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Boston Scientific in the first quarter valued at approximately $8,234,000. Finally, Blue Trust Inc. grew its holdings in Boston Scientific by 13.0% in the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock worth $504,000 after buying an additional 575 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

The firm has a market capitalization of $161.09 billion, a P/E ratio of 64.55, a price-to-earnings-growth ratio of 2.58 and a beta of 0.65. 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 business has a fifty day moving average of $104.78 and a 200-day moving average of $102.18.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%.The firm's revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. On average, sell-side analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.