Needham & Company LLC Lowers Boston Scientific (NYSE:BSX) Price Target to $57.00

Boston Scientific (NYSE:BSX) had its target price cut by equities researchers at Needham & Company LLC from $77.00 to $57.00 in a report issued on Wednesday, Marketbeat reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 25.84% from the stock’s current price.

Several other research firms have also recently weighed in on BSX. Royal Bank Of Canada restated an “outperform” rating on shares of Boston Scientific in a report on Thursday, May 28th. Wells Fargo & Company reiterated an “equal weight” rating and set a $55.00 target price (down from $75.00) on shares of Boston Scientific in a research report on Thursday, May 28th. Oppenheimer set a $90.00 target price on shares of Boston Scientific in a report on Thursday, April 23rd. Robert W. Baird set a $70.00 price target on shares of Boston Scientific in a research report on Thursday, May 28th. Finally, Truist Financial decreased their price target on shares of Boston Scientific from $85.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $81.32.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $45.30 on Wednesday. The company has a market cap of $67.33 billion, a P/E ratio of 18.95, a P/E/G ratio of 0.85 and a beta of 0.58. Boston Scientific has a 52-week low of $42.25 and a 52-week high of $109.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. The firm’s fifty day moving average is $50.23 and its two-hundred day moving average is $68.58.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The business’s revenue was up 11.6% on a year-over-year basis. Boston Scientific has set its Q2 2026 guidance at 0.820-0.840 EPS and its FY 2026 guidance at 3.340-3.410 EPS. As a group, analysts anticipate that Boston Scientific will post 3.36 EPS for the current fiscal year.

Boston Scientific announced that its Board of Directors has initiated a stock buyback program on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Boston Scientific

In other news, Director Edward J. Ludwig acquired 3,580 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $56.68 per share, for a total transaction of $202,914.40. Following the completion of the acquisition, the director directly owned 25,359 shares of the company’s stock, valued at $1,437,348.12. The trade was a 16.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Cheryl Pegus bought 1,770 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the acquisition, the director owned 1,770 shares in the company, valued at $99,987.30. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 9,800 shares of company stock worth $554,012 in the last quarter. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently modified their holdings of the business. FWL Investment Management LLC purchased a new stake in Boston Scientific during the second quarter worth $26,000. Swiss RE Ltd. purchased a new position in shares of Boston Scientific in the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Boston Scientific in the 4th quarter valued at $26,000. Bangor Savings Bank raised its position in shares of Boston Scientific by 94.7% in the 4th quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 142 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Boston Scientific during the 1st quarter worth $28,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.