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

Boston Scientific (NYSE:BSX) had its target price decreased by Truist Financial from $64.00 to $62.00 in a report published on Thursday, Marketbeat Ratings reports. Truist Financial currently has a buy rating on the medical equipment provider’s stock.

A number of other brokerages have also recently weighed in on BSX. Royal Bank Of Canada reduced their target price on Boston Scientific from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Raymond James Financial restated an “outperform” rating and issued a $88.00 price objective (down from $97.00) on shares of Boston Scientific in a report on Monday, March 30th. Wolfe Research lowered Boston Scientific from an “outperform” rating to a “peer perform” rating in a research note on Friday, May 29th. Leerink Partners decreased their target price on Boston Scientific from $87.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, May 28th. Finally, Robert W. Baird set a $70.00 target price on shares of Boston Scientific in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.84.

Boston Scientific Price Performance

Boston Scientific stock opened at $43.95 on Thursday. Boston Scientific has a 1 year low of $42.20 and a 1 year 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 has a 50 day moving average price of $48.18 and a 200 day moving average price of $65.87. The company has a market cap of $65.33 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 0.84 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share 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 the consensus estimate of $5.19 billion. During the same quarter last year, the firm posted $0.75 earnings per share. Boston Scientific’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. Sell-side analysts predict that Boston Scientific will post 3.35 earnings per share for the current year.

Boston Scientific declared that its Board of Directors has authorized a stock repurchase plan on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

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

Hedge Funds Weigh In On Boston Scientific

Several institutional investors and hedge funds have recently made changes to their positions in BSX. Vanguard Group Inc. grew its holdings in Boston Scientific by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider’s stock worth $13,319,060,000 after acquiring an additional 1,436,550 shares in the last quarter. State Street Corp grew its stake in Boston Scientific by 1.4% in the fourth quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider’s stock worth $6,278,422,000 after purchasing an additional 920,495 shares in the last quarter. Capital World Investors grew its stake in Boston Scientific by 1.9% in the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider’s stock worth $2,588,953,000 after purchasing an additional 502,627 shares in the last quarter. Norges Bank bought a new stake in Boston Scientific in the fourth quarter valued at about $2,199,395,000. Finally, Morgan Stanley raised its stake in Boston Scientific by 10.8% during the fourth quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider’s stock valued at $2,189,289,000 after buying an additional 2,246,308 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.