Needham & Company LLC Reiterates "Buy" Rating for Boston Scientific (NYSE:BSX)

Key Points

• Needham & Company LLC has reiterated a "Buy" rating for Boston Scientific (NYSE:BSX) with a price target of $121.00, indicating a potential upside of 22.92% from its current price.
• Boston Scientific recently reported quarterly earnings of $0.75 per share, exceeding the consensus estimate and showing a 22.8% increase in revenue year-over-year.
• Major institutional investors now hold 89.07% of Boston Scientific's stock, reflecting significant investor confidence in the company.

Boston Scientific (NYSE:BSX - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They currently have a $121.00 price target on the medical equipment provider's stock. Needham & Company LLC's price target points to a potential upside of 22.92% from the company's current price.

Several other brokerages have also weighed in on BSX. Truist Financial lifted their target price on shares of Boston Scientific from $125.00 to $129.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a research report on Monday, July 21st. Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Robert W. Baird boosted their price target 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, Leerink Partners boosted their price target 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. Two research 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $120.71.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded up $0.66 on Friday, hitting $98.44. 689,787 shares of the company were exchanged, compared to its average volume of 7,923,551. The company's 50 day moving average price is $101.37 and its two-hundred day moving average price is $101.75. Boston Scientific has a one year low of $80.64 and a one 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 firm has a market capitalization of $145.86 billion, a price-to-earnings ratio of 58.62, a PEG ratio of 2.35 and a beta of 0.61.

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

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the completion of the sale, the executive vice president directly owned 23,600 shares of the company's stock, valued at $2,469,268. The trade was a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward J. Ludwig sold 4,000 shares of the company's 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 completion of the sale, the director directly owned 18,479 shares of the company's stock, valued at $1,959,328.37. The trade was a 17.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 174,214 shares of company stock valued at $17,972,457. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Several large investors have recently bought and sold shares of BSX. Brighton Jones LLC boosted its holdings in shares of Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after buying an additional 226 shares during the period. GAMMA Investing LLC boosted its holdings 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 valued at $2,578,000 after buying an additional 3,745 shares during the period. Mission Wealth Management LP acquired a new position in shares of Boston Scientific in the first quarter valued at approximately $217,000. CWA Asset Management Group LLC boosted its holdings in shares of Boston Scientific by 43.0% in the first quarter. CWA Asset Management Group LLC now owns 11,844 shares of the medical equipment provider's stock valued at $1,195,000 after buying an additional 3,563 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Boston Scientific by 10.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 66,857 shares of the medical equipment provider's stock valued at $6,745,000 after buying an additional 6,551 shares during the period. Institutional investors own 89.07% of the company's stock.

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.

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