Boston Scientific (NYSE:BSX) Given New $100.00 Price Target at Morgan Stanley

Boston Scientific (NYSE:BSX) had its price objective increased by Morgan Stanley from $92.00 to $100.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical equipment provider’s stock.

BSX has been the subject of a number of other research reports. Royal Bank of Canada increased their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday. BTIG Research boosted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company increased their price objective on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial raised their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Robert W. Baird boosted their price objective on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

Boston Scientific stock traded down $0.17 during trading on Thursday, reaching $84.93. The company had a trading volume of 1,829,340 shares, compared to its average volume of 6,024,712. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The firm’s 50-day simple moving average is $83.19 and its 200 day simple moving average is $77.57. The firm has a market capitalization of $124.60 billion, a PE ratio of 71.52, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. Boston Scientific has a 1-year low of $49.15 and a 1-year high of $88.79.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. As a group, equities research analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is currently owned by insiders.

Institutional Trading of Boston Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors boosted its position in shares of Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after purchasing an additional 6,588,256 shares during the period. Marshall Wace LLP lifted its stake in Boston Scientific by 115.9% in the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after buying an additional 3,608,158 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $182,897,000. Vanguard Group Inc. grew its position in shares of Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after acquiring an additional 1,988,082 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Boston Scientific by 30.0% during the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after acquiring an additional 1,824,405 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.