Boston Scientific Co. (NYSE:BSX – Get Free Report)’s share price reached a new 52-week high on Tuesday . The company traded as high as $99.39 and last traded at $100.37, with a volume of 4064 shares trading hands. The stock had previously closed at $98.66.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on BSX shares. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Stifel Nicolaus lifted their price objective on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Mizuho lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Evercore ISI lifted their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.26.
View Our Latest Stock Report on Boston Scientific
Boston Scientific Stock Performance
Boston Scientific (NYSE:BSX – Get Free Report) last issued its 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. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year. Equities analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.
Insider Transactions at Boston Scientific
In related news, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,989 shares of company stock valued at $2,702,261 over the last quarter. Company insiders own 0.50% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. CRA Financial Services LLC boosted its holdings in Boston Scientific by 4.3% in the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after purchasing an additional 117 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 119 shares during the last quarter. Grove Bank & Trust boosted its holdings in Boston Scientific by 4.4% in the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock valued at $261,000 after purchasing an additional 122 shares during the last quarter. PFG Investments LLC boosted its holdings in Boston Scientific by 1.6% in the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock valued at $725,000 after purchasing an additional 125 shares during the last quarter. Finally, Stonegate Investment Group LLC boosted its holdings in Boston Scientific by 1.6% in the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock valued at $699,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other 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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