Morgan Stanley Issues Positive Forecast for Boston Scientific (NYSE:BSX) Stock Price

Boston Scientific (NYSE:BSX) had its target price raised by Morgan Stanley from $100.00 to $120.00 in a report published on Thursday,Benzinga reports. Morgan Stanley currently has an overweight rating on the medical equipment provider’s stock.

Several other brokerages also recently commented on BSX. BTIG Research upped their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. TD Cowen increased their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Stifel Nicolaus boosted their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. Piper Sandler increased their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Wells Fargo & Company lifted their target price on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $104.26.

Boston Scientific Trading Up 0.0 %

Shares of BSX stock opened at $105.01 on Thursday. The company has a market cap of $154.76 billion, a PE ratio of 86.78, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $94.30 and its two-hundred day simple moving average is $86.84. Boston Scientific has a 1 year low of $64.39 and a 1 year high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Research analysts predict that Boston Scientific will post 2.46 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. This represents a 11.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,302 shares of company stock valued at $4,464,725. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors have recently bought and sold shares of BSX. State Street Corp increased its position in shares of Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP increased its position in Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after buying an additional 718,515 shares in the last quarter. Geode Capital Management LLC raised its stake in Boston Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after buying an additional 480,729 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Boston Scientific by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,475,031 shares of the medical equipment provider’s stock worth $756,990,000 after acquiring an additional 456,654 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Boston Scientific by 21.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock worth $518,138,000 after acquiring an additional 1,028,977 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.