Stocks of Boston Scientific Corporation (NYSE:BSX) traded higher last session on Wall Street, up 0.17% to $53.77.
According to the data, Boston Scientific Corporation (NYSE:BSX) has 31 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $63.00 and a low of $55.00, we find $58.00. Given the previous closing price of $53.68, this indicates a potential upside of 8.05 percent. BSX stock price is now 6.76% away from the 50-day moving average and 18.80% away from the 200-day moving average. The market capitalization of the company currently stands at $77.38B.
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A total of 5 analysts have issued a hold rating and 22 have given it a buy rating. Brokers who have rated the stock have averaged $58.44 as their price target over the next twelve months.
With the price target of $57, UBS recently initiated with Buy rating for Boston Scientific Corporation (NYSE: BSX). On December 22, 2022, Mizuho recently initiated its ‘Neutral’ rating on the stock quoting a target price of $52, while ‘Citigroup’ rates the stock as ‘Buy’.
In other news, Thepaut Eric Francis Yves, EVP & Pres, Eur, Mid-East, Afr sold 83,401 shares of the company’s stock on May 02. The stock was sold for $4,377,543 at an average price of $52.49. Upon completion of the transaction, the EVP & Pres, Eur, Mid-East, Afr now directly owns 12,269 shares in the company, valued at $0.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 17, EVP, Human Resources Carruthers Wendy sold 11,671 shares of the business’s stock. A total of $606,423 was realized by selling the stock at an average price of $51.96. This leaves the insider owning 83,373 shares of the company worth $4.48 million. Insiders disposed of 1,490,730 shares of company stock worth roughly $80.16 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BSX stock. A new stake in Boston Scientific Corporation shares was purchased by HOLOCENE ADVISORS, LP during the first quarter worth $234,125,000. JENNISON ASSOCIATES LLC invested $58,182,000 in shares of BSX during the first quarter. In the first quarter, HARVEST PORTFOLIOS GROUP INC. acquired a new stake in Boston Scientific Corporation valued at approximately $54,927,000. EMPLOYEES RETIREMENT SYSTEM OF TEXAS acquired a new stake in BSX for approximately $38,446,000. BALYASNY ASSET MANAGEMENT L.P. purchased a new stake in BSX valued at around $31,940,000 in the second quarter. In total, there are 1,436 active investors with 94.60% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $53.71 for Boston Scientific Corporation (NYSE: BSX). During the past 12 months, Boston Scientific Corporation has had a low of $34.98 and a high of $53.99. As of last week, the company has a debt-to-equity ratio of 0.50, a current ratio of 1.40, and a quick ratio of 0.90. According to the stock market information, the enterprise value for the company is $81.80B, which is based on a 91.76 price-to-earnings ratio, a 7.54 price-to-earnings-growth ratio, and a beta of 0.79. The fifty day moving average price for BSX is $50.49 and a two-hundred day moving average price translates $45.33 for the stock.
The latest earnings results from Boston Scientific Corporation (NYSE: BSX) was released for Mar, 2023. According to the Medical Devices Company, earnings per share came in at $0.47, beating analysts’ expectations of $0.44 by 0.03. This compares to $0.08 EPS in the same period last year. The net profit margin was 6.50% and return on equity was 4.80% for BSX. The company reported revenue of $3.39 billion for the quarter, compared to $3.03 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 12.0 percent. For the current quarter, analysts expect BSX to generate $3.5B in revenue.
Boston Scientific Corporation(BSX) Company Profile
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. 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, that uses in the treatment of coronary artery disease and aortic valve conditions. Further, it provides stents, balloon catheters, guidewires, atherectomy, and thrombectomy systems to treat arterial and venous diseases; and peripheral embolization devices, radioactive microspheres, cryotherapy ablation systems, and micro and drainage catheters to treat cancer. The company was incorporated in 1979 and is headquartered in Marlborough, Massachusetts.
