Boston Scientific (NYSE:BSX) Price Target Lowered to $113.00 at Truist Financial

Boston Scientific (NYSE:BSX) had its price objective reduced by investment analysts at Truist Financial from $120.00 to $113.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price objective suggests a potential upside of 22.63% from the company’s current price.

Other analysts also recently issued research reports about the company. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. UBS Group raised their price target on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Monday, March 3rd. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Raymond James boosted their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.04.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $92.15 on Friday. The company has a market capitalization of $136.29 billion, a PE ratio of 74.20, a PEG ratio of 2.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific has a 1-year low of $66.80 and a 1-year high of $107.17. The business has a fifty day moving average price of $100.73 and a 200-day moving average price of $93.95.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, equities analysts expect that Boston Scientific will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the sale, the executive vice president now owns 25,443 shares of the company’s stock, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares in the company, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,183 shares of company stock valued at $13,948,476. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its holdings in shares of Boston Scientific by 16.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,414 shares of the medical equipment provider’s stock valued at $118,000 after acquiring an additional 201 shares during the last quarter. Soltis Investment Advisors LLC acquired a new position in Boston Scientific in the third quarter valued at approximately $240,000. M&T Bank Corp increased its stake in Boston Scientific by 0.3% in the third quarter. M&T Bank Corp now owns 106,127 shares of the medical equipment provider’s stock valued at $8,894,000 after purchasing an additional 370 shares during the last quarter. Passumpsic Savings Bank acquired a new stake in Boston Scientific during the third quarter worth approximately $3,015,000. Finally, World Investment Advisors LLC lifted its position in shares of Boston Scientific by 50.9% during the 3rd quarter. World Investment Advisors LLC now owns 11,684 shares of the medical equipment provider’s stock worth $979,000 after buying an additional 3,939 shares during the last quarter. Institutional investors and hedge funds 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.