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

Key Points

• BTIG Research reiterated a buy rating on Boston Scientific and kept a $65 price target, implying about 39% upside from the stock’s current level.
• Recent analyst opinions are mixed but still largely positive: the stock has a consensus Moderate Buy rating with an average price target of $85.08, even as some firms trimmed targets.
• Boston Scientific reported solid quarterly results, with EPS and revenue slightly ahead of expectations, and the company also authorized a $5 billion share repurchase program, signaling management confidence in the stock.

Boston Scientific (NYSE:BSX - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at BTIG Research in a note issued to investors on Tuesday,Benzinga reports. They presently have a $65.00 price objective on the medical equipment provider's stock. BTIG Research's price target suggests a potential upside of 39.23% from the stock's current price.

A number of other research firms also recently issued reports on BSX. Weiss Ratings downgraded shares of Boston Scientific from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 13th. Truist Financial reduced their price target on shares of Boston Scientific from $85.00 to $64.00 and set a "buy" rating for the company in a report on Thursday, June 4th. Argus raised shares of Boston Scientific to a "strong-buy" rating in a report on Thursday, February 26th. Bank of America reduced their price target on shares of Boston Scientific from $105.00 to $68.00 and set a "buy" rating for the company in a report on Monday, May 18th. Finally, Leerink Partners reduced their price target on shares of Boston Scientific from $87.00 to $74.00 and set an "outperform" rating for the company in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $85.08.

Boston Scientific Trading Down 0.5%

Boston Scientific stock opened at $46.69 on Tuesday. The firm's 50-day moving average is $56.05 and its 200-day moving average is $74.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. Boston Scientific has a 1 year low of $45.99 and a 1 year high of $109.50. The company has a market cap of $69.39 billion, a P/E ratio of 19.53, a PEG ratio of 0.89 and a beta of 0.56.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the firm posted $0.75 EPS. The company's revenue for the quarter was up 11.6% on a year-over-year basis. Boston Scientific has set its Q2 2026 guidance at 0.820-0.840 EPS and its FY 2026 guidance at 3.340-3.410 EPS. On average, equities analysts expect that Boston Scientific will post 3.36 earnings per share for the current year.

Boston Scientific announced that its Board of Directors has approved a stock repurchase program on Monday, May 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Boston Scientific news, Director David C. Habiger purchased 2,250 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the transaction, the director owned 13,878 shares in the company, valued at $776,057.76. The trade was a 19.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cheryl Pegus purchased 1,770 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the purchase, the director directly owned 1,770 shares in the company, valued at $99,987.30. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 9,800 shares of company stock worth $554,012. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Boston Scientific by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider's stock worth $13,319,060,000 after purchasing an additional 1,436,550 shares in the last quarter. State Street Corp increased its stake in Boston Scientific by 1.4% in the 4th quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider's stock worth $6,278,422,000 after purchasing an additional 920,495 shares in the last quarter. Capital World Investors grew its stake in Boston Scientific by 1.9% during the 4th quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider's stock valued at $2,588,953,000 after acquiring an additional 502,627 shares in the last quarter. Norges Bank purchased a new position in Boston Scientific during the 4th quarter valued at about $2,199,395,000. Finally, Morgan Stanley grew its stake in Boston Scientific by 10.8% during the 4th quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider's stock valued at $2,189,289,000 after acquiring an additional 2,246,308 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Company Profile

Boston Scientific Corporation NYSE: BSX is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific's activities span product development, clinical research, regulatory affairs and commercial sales.

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