Boston Scientific’s (BSX) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Boston Scientific (NYSE:BSX) in a report released on Thursday,Benzinga reports. Canaccord Genuity Group currently has a $132.00 price target on the medical equipment provider’s stock.

Several other equities analysts also recently issued reports on BSX. Barclays lifted their price objective on Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. BTIG Research reiterated a “buy” rating and issued a $132.00 price objective on shares of Boston Scientific in a research report on Wednesday. Jefferies Financial Group reiterated a “hold” rating on shares of Boston Scientific in a research report on Monday, July 21st. Evercore ISI reiterated an “outperform” rating on shares of Boston Scientific in a research report on Wednesday. Finally, Oppenheimer raised Boston Scientific from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $118.00 to $125.00 in a research note on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $123.77.

Boston Scientific Price Performance

Boston Scientific stock opened at $101.08 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.82. The company has a market capitalization of $149.78 billion, a PE ratio of 54.06, a price-to-earnings-growth ratio of 2.34 and a beta of 0.61. Boston Scientific has a one year low of $80.64 and a one year high of $109.50. The business has a 50 day simple moving average of $101.14 and a 200 day simple moving average of $102.08.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.04. Boston Scientific had a return on equity of 19.74% and a net margin of 14.43%.The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. On average, sell-side analysts forecast that Boston Scientific will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $104.63, for a total value of $1,811,459.19. Following the completion of the transaction, the executive vice president directly owned 23,600 shares of the company’s stock, valued at approximately $2,469,268. The trade was a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $98.47, for a total value of $4,923,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares of the company’s stock, valued at approximately $17,561,336.74. The trade was a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 170,214 shares of company stock valued at $17,548,337 over the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steph & Co. acquired a new position in Boston Scientific in the third quarter valued at about $25,000. Financial Consulate Inc. bought a new stake in shares of Boston Scientific in the third quarter valued at about $25,000. 1248 Management LLC bought a new stake in shares of Boston Scientific in the first quarter valued at about $26,000. FWL Investment Management LLC bought a new stake in shares of Boston Scientific in the second quarter valued at about $26,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of Boston Scientific in the first quarter valued at about $27,000. 89.07% of the stock is owned by institutional investors and hedge funds.

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.