In yesterday’s Wall Street session, Boston Scientific Corporation (NYSE:BSX) shares traded at $53.42, down -2.09% from the previous session.
As we calculate the median target price by taking the range between a high of $68.00 and a low of $55.00, we find $60.50. Given the previous closing price of $54.56, this indicates a potential upside of 10.89 percent. BSX stock price is now 2.21% away from the 50-day moving average and 7.33% away from the 200-day moving average. The market capitalization of the company currently stands at $78.25B.
Brokers who have rated the stock have averaged $60.50 as their price target over the next twelve months.
With the price target of $59, Robert W. Baird recently initiated with Outperform rating for Boston Scientific Corporation (NYSE: BSX).
In other news, Mahoney Michael F, Chairman, President & CEO sold 113,355 shares of the company’s stock on Sep 12. The stock was sold for $6,110,447 at an average price of $53.91. Upon completion of the transaction, the Chairman, President & CEO now directly owns 1,498,922 shares in the company, valued at $80.07 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 29, EVP&Pres, Periph Intervent Mirviss Jeffrey B. sold 4,657 shares of the business’s stock. A total of $253,811 was realized by selling the stock at an average price of $54.50. This leaves the insider owning 60,588 shares of the company worth $3.24 million. Insiders disposed of 1,036,985 shares of company stock worth roughly $55.4 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 WINSLOW CAPITAL MANAGEMENT, LLC during the first quarter worth $235,018,000. IRON TRIANGLE PARTNERS LP invested $45,407,000 in shares of BSX during the first quarter. In the first quarter, RENAISSANCE TECHNOLOGIES LLC acquired a new stake in Boston Scientific Corporation valued at approximately $44,654,000. BRAIDWELL LP acquired a new stake in BSX for approximately $38,305,000. TWINBEECH CAPITAL LP purchased a new stake in BSX valued at around $37,452,000 in the second quarter. In total, there are 1,515 active investors with 94.60% ownership of the company’s stock.
On Tuesday morning Boston Scientific Corporation (NYSE: BSX) stock kicked off with the opening price of $54.47. During the past 12 months, Boston Scientific Corporation has had a low of $37.74 and a high of $54.99. As of last week, the company has a debt-to-equity ratio of 0.50, a current ratio of 1.30, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $88.92B, which is based on a 89.93 price-to-earnings ratio, a 7.01 price-to-earnings-growth ratio, and a beta of 0.78. The fifty day moving average price for BSX is $52.25 and a two-hundred day moving average price translates $49.82 for the stock.
The latest earnings results from Boston Scientific Corporation (NYSE: BSX) was released for Jun, 2023. According to the Medical Devices Company, earnings per share came in at $0.53, beating analysts’ expectations of $0.49 by 0.04. This compares to $0.18 EPS in the same period last year. The net profit margin was 6.40% and return on equity was 4.80% for BSX. The company reported revenue of $3.6 billion for the quarter, compared to $3.24 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.94 percent. For the current quarter, analysts expect BSX to generate $3.47B 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.
