Truist Financial Lowers Boston Scientific (NYSE:BSX) Price Target to $62.00

Boston Scientific (NYSE:BSX) had its target price cut by analysts at Truist Financial from $64.00 to $62.00 in a research note issued on Thursday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price objective would suggest a potential upside of 41.06% from the company’s previous close.

Several other analysts have also recently commented on BSX. Mizuho reduced their target price on shares of Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday. Needham & Company LLC dropped their price target on shares of Boston Scientific from $77.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Wells Fargo & Company reissued an “equal weight” rating and set a $55.00 price target (down from $75.00) on shares of Boston Scientific in a report on Thursday, May 28th. Jefferies Financial Group reduced their price objective on shares of Boston Scientific from $100.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Finally, Wall Street Zen lowered Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.84.

Boston Scientific Trading Down 1.5%

NYSE:BSX opened at $43.95 on Thursday. The firm has a market cap of $65.33 billion, a P/E ratio of 18.39, a PEG ratio of 0.86 and a beta of 0.58. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $48.18 and its 200-day simple moving average is $65.87. Boston Scientific has a 12-month low of $42.20 and a 12-month high of $109.50.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the company earned $0.75 earnings per share. The company’s revenue for the quarter 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. Equities analysts anticipate that Boston Scientific will post 3.35 EPS for the current year.

Boston Scientific declared that its board has authorized a share buyback program on Monday, May 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical equipment provider to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director David C. Habiger acquired 2,250 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $55.92 per share, with a total value of $125,820.00. Following the completion of the acquisition, the director owned 13,878 shares in the company, valued at approximately $776,057.76. This represents a 19.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cheryl Pegus bought 1,770 shares of the stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the transaction, the director directly owned 1,770 shares of the company’s stock, valued at $99,987.30. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 9,800 shares of company stock worth $554,012 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors have recently modified their holdings of BSX. Outfitters Financial LLC increased its stake in shares of Boston Scientific by 0.5% in the fourth quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider’s stock valued at $2,291,000 after buying an additional 110 shares during the period. Natural Investments LLC raised its position in shares of Boston Scientific by 2.9% during the fourth quarter. Natural Investments LLC now owns 4,036 shares of the medical equipment provider’s stock worth $384,000 after acquiring an additional 112 shares during the last quarter. Old Port Advisors lifted its stake in shares of Boston Scientific by 4.7% in the fourth quarter. Old Port Advisors now owns 2,558 shares of the medical equipment provider’s stock worth $244,000 after acquiring an additional 115 shares during the period. Thrive Wealth Management LLC lifted its stake in shares of Boston Scientific by 1.6% in the fourth quarter. Thrive Wealth Management LLC now owns 7,387 shares of the medical equipment provider’s stock worth $704,000 after acquiring an additional 117 shares during the period. Finally, Kathmere Capital Management LLC boosted its holdings in Boston Scientific by 2.3% in the fourth quarter. Kathmere Capital Management LLC now owns 5,228 shares of the medical equipment provider’s stock valued at $498,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About Boston Scientific

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.