Boston Scientific - BSX Stock Forecast, Price & News

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems. It also provides medical technologies to diagnose and treat rate and rhythm disorders of the heart comprising 3-D cardiac mapping and navigation solutions, ablation catheters, diagnostic catheters, mapping catheters, intracardiac ultrasound catheters, delivery sheaths, and other accessories; spinal cord stimulator systems for the management of chronic pain; indirect decompression systems; and deep brain stimulation systems. In addition, the company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as various peripheral vessels; and structural heart therapies. Further, it provides stents, balloon catheters, wires, and atherectomy systems to treat arterial diseases; thrombectomy and acoustic pulse thrombolysis systems, wires, and stents to treat venous diseases; and peripheral embolization devices, radioactive microspheres, ablation systems, cryotherapy ablation systems, and micro and drainage catheters to treat cancer. The company was incorporated in 1979 and is headquartered in Marlborough, Massachusetts.

Boston Scientific Stock Up 2.0 %

Shares of BSX opened at $41.86 on Thursday. Boston Scientific has a 52 week low of $34.98 and a 52 week high of $47.49. The stock has a market capitalization of $59.84 billion, a price-to-earnings ratio of 72.17, a PEG ratio of 2.22 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.86 and a current ratio of 1.31. The stock has a fifty day moving average of $38.31 and a 200-day moving average of $41.24.

Boston Scientific (NYSE:BSX - Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. Boston Scientific had a return on equity of 14.58% and a net margin of 7.16%. The company had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.22 billion. During the same period in the prior year, the company earned $0.40 EPS. Boston Scientific's revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Scientific will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BSX. BTIG Research increased their price target on Boston Scientific from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, July 28th. Morgan Stanley reduced their price target on Boston Scientific from $51.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, July 15th. Citigroup reduced their price target on Boston Scientific from $52.00 to $47.00 and set a "buy" rating on the stock in a research report on Tuesday, May 17th. Canaccord Genuity Group cut their target price on Boston Scientific from $51.00 to $43.00 and set a "buy" rating for the company in a research note on Wednesday, June 29th. Finally, Truist Financial cut their target price on Boston Scientific from $51.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, July 20th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $46.55.

Insider Activity

In related news, EVP Wendy Carruthers sold 7,500 shares of the firm's stock in a transaction on Monday, May 16th. The stock was sold at an average price of $39.43, for a total transaction of $295,725.00. Following the completion of the transaction, the executive vice president now directly owns 139,913 shares of the company's stock, valued at approximately $5,516,769.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Nelda J. Connors sold 16,088 shares of the firm's stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $41.58, for a total transaction of $668,939.04. Following the completion of the transaction, the director now directly owns 4,877 shares of the company's stock, valued at approximately $202,785.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 7,500 shares of the firm's stock in a transaction on Monday, May 16th. The stock was sold at an average price of $39.43, for a total value of $295,725.00. Following the transaction, the executive vice president now directly owns 139,913 shares of the company's stock, valued at $5,516,769.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,264 shares of company stock worth $2,382,173. Insiders own 0.66% of the company's stock.