Boston Scientific's (BSX) Buy Rating Reiterated at BTIG Research

Key Points

• BTIG Research has reaffirmed a "buy" rating for Boston Scientific with a target price of $132.00, suggesting a potential upside of 26.80% from the company's last closing price.
• Boston Scientific's recent quarterly earnings beat expectations with an EPS of $0.75, while revenue increased 20.3% year-over-year, totaling $5.07 billion.
• Institutional investors hold 89.07% of Boston Scientific's stock, with significant positions taken by Norges Bank and Edgewood Management LLC in the second quarter.

Boston Scientific (NYSE:BSX - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at BTIG Research in a note issued to investors on Wednesday,Benzinga reports. They presently have a $132.00 target price on the medical equipment provider's stock. BTIG Research's target price would indicate a potential upside of 26.80% from the company's previous close.

BSX has been the topic of a number of other research reports. Canaccord Genuity Group boosted their price target on Boston Scientific from $131.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, October 1st. Needham & Company LLC reissued a "buy" rating and set a $121.00 price target on shares of Boston Scientific in a research report on Friday, October 17th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Boston Scientific in a research report on Monday, July 21st. UBS Group upped their target price on Boston Scientific from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Boston Scientific in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Boston Scientific currently has a consensus rating of "Buy" and a consensus target price of $121.61.

Boston Scientific Stock Performance

Shares of NYSE BSX traded up $4.20 during trading hours on Wednesday, hitting $104.10. 11,572,273 shares of the company's stock were exchanged, compared to its average volume of 7,980,441. 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 current ratio of 1.37 and a quick ratio of 0.82. The stock has a market capitalization of $154.25 billion, a price-to-earnings ratio of 62.05, a PEG ratio of 2.42 and a beta of 0.61. The company's 50-day moving average price is $101.19 and its 200-day moving average price is $101.83.

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

Insiders Place Their Bets

In related news, Director Yoshiaki Fujimori sold 2,901 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total value of $310,377.99. Following the completion of the sale, the director directly owned 2,081 shares in the company, valued at approximately $222,646.19. This represents a 58.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the transaction, the executive vice president directly owned 23,600 shares in the company, valued at $2,469,268. The trade was a 42.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,214 shares of company stock valued at $17,972,457 over the last quarter. Corporate insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Boston Scientific in the 2nd quarter valued at about $2,089,937,000. Edgewood Management LLC acquired a new position in shares of Boston Scientific during the 2nd quarter valued at $746,655,000. Bessemer Group Inc. lifted its position in shares of Boston Scientific by 14,391.8% during the 2nd quarter. Bessemer Group Inc. now owns 2,919,801 shares of the medical equipment provider's stock valued at $313,618,000 after acquiring an additional 2,899,653 shares during the period. Vanguard Group Inc. lifted its position in shares of Boston Scientific by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 137,134,110 shares of the medical equipment provider's stock valued at $14,729,575,000 after acquiring an additional 2,545,381 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Boston Scientific by 18.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,610,487 shares of the medical equipment provider's stock worth $1,070,387,000 after buying an additional 1,664,108 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

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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