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

Boston Scientific (NYSE:BSX) had its price target cut by Needham & Company LLC from $77.00 to $57.00 in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have a buy rating on the medical equipment provider’s stock.

BSX has been the topic of a number of other reports. Leerink Partners cut their target price on Boston Scientific from $87.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, May 28th. Robert W. Baird set a $70.00 price target on shares of Boston Scientific in a research note on Thursday, May 28th. Bank of America lowered their price objective on shares of Boston Scientific from $105.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, May 18th. The Goldman Sachs Group set a $71.00 price objective on shares of Boston Scientific in a report on Thursday, May 28th. Finally, Citigroup decreased their target price on shares of Boston Scientific from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $81.32.

Boston Scientific Trading Down 1.2%

BSX opened at $44.77 on Wednesday. The company has a fifty day moving average price of $49.93 and a two-hundred day moving average price of $68.22. Boston Scientific has a 1-year low of $42.25 and a 1-year high of $109.50. The company has a market cap of $66.54 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 0.87 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.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations 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. Analysts predict that Boston Scientific will post 3.36 EPS for the current fiscal year.

Boston Scientific declared that its Board of Directors has authorized a stock repurchase plan 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 repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Cheryl Pegus acquired 1,770 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the purchase, the director owned 1,770 shares in the company, valued at approximately $99,987.30. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David C. Habiger bought 2,250 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $55.92 per share, for a total transaction of $125,820.00. Following the transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 9,800 shares of company stock valued at $554,012 in the last three months. 0.34% of the stock is currently owned by insiders.

Institutional Trading of Boston Scientific

A number of institutional investors and hedge funds have recently modified their holdings of BSX. FWL Investment Management LLC purchased a new stake in Boston Scientific during the second quarter valued at about $26,000. Swiss RE Ltd. purchased a new position in shares of Boston Scientific in the fourth quarter worth about $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth about $26,000. Bangor Savings Bank raised its position in shares of Boston Scientific by 94.7% in the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 142 shares during the period. Finally, Board of the Pension Protection Fund bought a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $29,000. 89.07% of the stock is owned by hedge funds and other 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.