In yesterday’s Wall Street session, Boston Scientific Corp. (NYSE:BSX) shares traded at $49.52, down -0.52% from the previous session.
As of this writing, 33 analysts cover Boston Scientific Corp. (NYSE:BSX). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $68.00 and a low of $52.50, we find $60.00. Given the previous closing price of $49.78, this indicates a potential upside of 20.53 percent. BSX stock price is now -4.99% away from the 50-day moving average and -2.48% away from the 200-day moving average. The market capitalization of the company currently stands at $72.51B.
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There are 4 analysts who have given it a hold rating, whereas 23 have given it a buy rating. Brokers who have rated the stock have averaged $60.53 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 Corp. (NYSE: BSX).
In other news, Carruthers Wendy, EVP, Human Resources sold 11,671 shares of the company’s stock on Oct 16. The stock was sold for $581,063 at an average price of $49.79. Upon completion of the transaction, the EVP, Human Resources now directly owns 51,795 shares in the company, valued at $2.56 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 09, Chairman, President & CEO Mahoney Michael F sold 113,355 shares of the business’s stock. A total of $5,904,481 was realized by selling the stock at an average price of $52.09. This leaves the insider owning 1,498,922 shares of the company worth $74.23 million. Insiders disposed of 1,394,499 shares of company stock worth roughly $69.06 million over the past 1 year. A total of 0.48% 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 Corp. shares was purchased by WINSLOW CAPITAL MANAGEMENT, LLC during the first quarter worth $217,860,000. IRON TRIANGLE PARTNERS LP invested $42,092,000 in shares of BSX during the first quarter. In the first quarter, RENAISSANCE TECHNOLOGIES LLC acquired a new stake in Boston Scientific Corp. valued at approximately $41,394,000. BRAIDWELL LP acquired a new stake in BSX for approximately $35,508,000. TWINBEECH CAPITAL LP purchased a new stake in BSX valued at around $34,718,000 in the second quarter. In total, there are 1,515 active investors with 93.57% ownership of the company’s stock.
Friday morning saw Boston Scientific Corp. (NYSE: BSX) opened at $50.27. During the past 12 months, Boston Scientific Corp. has had a low of $40.93 and a high of $55.38. As of last week, the company has a debt-to-equity ratio of 0.52, a current ratio of 1.29, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $81.54B, which is based on a 60.83 price-to-earnings ratio, a 4.90 price-to-earnings-growth ratio, and a beta of 0.78. The fifty day moving average price for BSX is $52.09 and a two-hundred day moving average price translates $50.80 for the stock.
The latest earnings results from Boston Scientific Corp. (NYSE: BSX) was released for Sep, 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 8.66% and return on equity was 5.14% 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.
