Boston Scientific's (BSX) "Buy" Rating Reiterated at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reiterated its "Buy" rating for Boston Scientific (BSX) with a price target of **$132.00**, indicating a potential **27.34%** upside from its previous close.
• Several other analysts have raised their price targets for Boston Scientific recently, with **UBS** increasing it to **$135.00** and **Wells Fargo** to **$124.00**, reflecting widespread positive sentiment in the market.
• Boston Scientific reported a **20.3%** increase in revenue year-over-year, with earnings per share for the latest quarter surpassing analysts’ estimates, showcasing strong financial performance.

Boston Scientific (NYSE:BSX - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Canaccord Genuity Group in a research note issued to investors on Thursday,Benzinga reports. They currently have a $132.00 price objective on the medical equipment provider's stock. Canaccord Genuity Group's target price suggests a potential upside of 27.34% from the company's previous close.

A number of other analysts have also issued reports on the stock. UBS Group increased their price target on shares of Boston Scientific from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Wells Fargo & Company increased their price objective on Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Leerink Partners raised their price objective on shares of Boston Scientific from $127.00 to $128.00 and gave the company an "outperform" rating in a research report on Wednesday, October 1st. Robert W. Baird raised their price objective on shares of Boston Scientific from $123.00 to $128.00 and gave the company an "outperform" rating in a research report on Wednesday, October 1st. Finally, Oppenheimer raised shares of Boston Scientific from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $118.00 to $125.00 in a research report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $121.92.

Boston Scientific Price Performance

NYSE BSX opened at $103.66 on Thursday. The company has a 50 day simple moving average of $101.22 and a 200-day simple moving average of $101.85. 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 firm has a market capitalization of $153.60 billion, a price-to-earnings ratio of 61.70, a price-to-earnings-growth ratio of 2.40 and a beta of 0.61. Boston Scientific has a 52-week low of $80.64 and a 52-week high of $109.50.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.97 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The firm's revenue was up 20.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. Equities research analysts predict that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $104.63, for a total transaction of $5,231,500.00. Following the transaction, the executive vice president owned 178,342 shares in the company, valued at $18,659,923.46. This trade represents a 21.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $104.63, for a total value of $1,811,459.19. Following the transaction, the executive vice president owned 23,600 shares in the company, valued at approximately $2,469,268. This trade represents a 42.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,214 shares of company stock worth $17,972,457. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. Brighton Jones LLC grew its holdings in Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after purchasing an additional 226 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Boston Scientific by 17.2% in the first quarter. GAMMA Investing LLC now owns 25,554 shares of the medical equipment provider's stock worth $2,578,000 after acquiring an additional 3,745 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Boston Scientific by 18.8% in the first quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock worth $3,987,000 after acquiring an additional 6,264 shares during the last quarter. Legacy Advisors LLC grew its stake in shares of Boston Scientific by 12.9% in the first quarter. Legacy Advisors LLC now owns 3,905 shares of the medical equipment provider's stock worth $394,000 after acquiring an additional 446 shares during the last quarter. Finally, Spire Wealth Management grew its stake in shares of Boston Scientific by 15.9% in the first quarter. Spire Wealth Management now owns 10,630 shares of the medical equipment provider's stock worth $1,072,000 after acquiring an additional 1,456 shares during the last quarter. Institutional investors and hedge funds 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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