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

Boston Scientific (NYSE:BSX) had its price target decreased by Needham & Company LLC from $77.00 to $57.00 in a report released on Wednesday, MarketBeat reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Needham & Company LLC’s price target indicates a potential upside of 25.84% from the stock’s previous close.

Several other brokerages also recently commented on BSX. Stifel Nicolaus cut their price objective on shares of Boston Scientific from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Zacks Research cut shares of Boston Scientific from a “hold” rating to a “strong sell” rating in a report on Friday, June 5th. Barclays reduced their price target on shares of Boston Scientific from $96.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, May 28th. Royal Bank Of Canada restated an “outperform” rating on shares of Boston Scientific in a report on Thursday, May 28th. Finally, Truist Financial cut their target price on 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 issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.32.

Boston Scientific Stock Performance

Shares of BSX opened at $45.30 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. The stock 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. The business’s 50 day moving average price is $50.23 and its 200-day moving average price is $68.58. Boston Scientific has a 52 week low of $42.25 and a 52 week high of $109.50.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. 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 research analysts anticipate that Boston Scientific will post 3.36 earnings per share for the current fiscal year.

Boston Scientific declared that its Board of Directors has authorized a stock buyback program on Monday, May 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical equipment provider to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Boston Scientific

In related news, Director Cheryl Pegus acquired 1,770 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the purchase, the director directly owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David C. Habiger bought 2,250 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the transaction, the director directly owned 13,878 shares of the company’s stock, valued at $776,057.76. This represents a 19.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 9,800 shares of company stock worth $554,012. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. FWL Investment Management LLC bought a new position in shares of Boston Scientific in the second quarter worth approximately $26,000. Swiss RE Ltd. bought a new stake in shares of Boston Scientific during the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Boston Scientific during the 4th quarter valued at $26,000. Bangor Savings Bank boosted its holdings in 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 buying an additional 142 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Boston Scientific in the first quarter valued at about $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.