Wells Fargo & Company Forecasts Strong Price Appreciation for Boston Scientific (NYSE:BSX) Stock

Key Points

• Wells Fargo & Company has increased the target price for Boston Scientific (NYSE:BSX) from $124.00 to $125.00, indicating a potential upside of 19.54% from its current price.
• Multiple brokerages have given Boston Scientific an overall positive outlook, with twenty-three analysts rating it as a Buy and two as a Hold.
• Boston Scientific reported a 20.3% increase in revenue year-over-year, achieving $5.07 billion, and surpassing analysts' earnings expectations for the recent quarter.

Boston Scientific (NYSE:BSX - Get Free Report) had its target price lifted by research analysts at Wells Fargo & Company from $124.00 to $125.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the medical equipment provider's stock. Wells Fargo & Company's price target points to a potential upside of 19.54% from the stock's current price.

Several other brokerages have also recently issued reports on BSX. Evercore ISI restated an "outperform" rating on shares of Boston Scientific in a research note on Wednesday. UBS Group raised their price objective on Boston Scientific from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Leerink Partners lifted their price target on Boston Scientific from $127.00 to $128.00 and gave the company an "outperform" rating in a research report on Wednesday, October 1st. Erste Group Bank cut Boston Scientific from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, Barclays lifted their price target on Boston Scientific from $133.00 to $136.00 and gave the company an "overweight" rating in a research report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $121.96.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $104.57 on Thursday. 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 company has a market cap of $154.95 billion, a PE ratio of 62.24, a P/E/G ratio of 2.40 and a beta of 0.61. The business has a 50-day simple moving average of $101.22 and a two-hundred day simple moving average of $101.85. Boston Scientific has a fifty-two week low of $80.64 and a fifty-two week high of $109.50.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping 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 period last year, the business posted $0.63 earnings per share. The company's revenue for the quarter was up 20.3% compared to the same quarter last year. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. As a group, equities analysts expect that Boston Scientific will post 2.85 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $104.63, for a total value of $1,811,459.19. Following 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Yoshiaki Fujimori sold 2,901 shares of Boston Scientific stock in a transaction that occurred 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 $222,646.19. This represents a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,214 shares of company stock valued at $17,972,457. Insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Boston Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FWL Investment Management LLC acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $26,000. Sound Income Strategies LLC raised its holdings in shares of Boston Scientific by 90.9% in the 2nd quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 120 shares during the period. Steph & Co. purchased a new stake in shares of Boston Scientific in the 3rd quarter valued at $25,000. 1248 Management LLC purchased a new stake in shares of Boston Scientific in the 1st quarter valued at $26,000. Finally, Financial Consulate Inc. purchased a new stake in shares of Boston Scientific in the 3rd quarter valued at $25,000. 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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