UBS Group Increases Boston Scientific (NYSE:BSX) Price Target to $90.00

Boston Scientific (NYSE:BSX) had its price target lifted by equities research analysts at UBS Group from $74.00 to $90.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. UBS Group’s price objective indicates a potential upside of 23.07% from the company’s previous close.

BSX has been the topic of a number of other reports. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Evercore ISI raised their target price on Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday. Robert W. Baird increased their price target on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday. Needham & Company LLC upped their target price on shares of Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $75.09.

Boston Scientific Trading Down 0.2 %

Shares of BSX stock opened at $73.13 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a market cap of $107.29 billion, a price-to-earnings ratio of 61.45, a PEG ratio of 2.48 and a beta of 0.78. The company’s 50-day moving average price is $67.82 and its 200-day moving average price is $60.51. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, equities analysts predict that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock worth $3,418,529 in the last three months. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Pinnacle Associates Ltd. increased its stake in shares of Boston Scientific by 2.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after acquiring an additional 148 shares during the last quarter. BSW Wealth Partners raised its position in shares of Boston Scientific by 2.3% in the 4th quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock worth $428,000 after buying an additional 165 shares during the period. Allstate Corp boosted its holdings in Boston Scientific by 2.9% in the fourth quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock valued at $343,000 after acquiring an additional 165 shares during the last quarter. First Affirmative Financial Network increased its stake in Boston Scientific by 4.3% during the first quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock worth $276,000 after acquiring an additional 166 shares during the last quarter. Finally, Valley National Advisers Inc. increased its position in Boston Scientific by 2.3% during the 4th quarter. Valley National Advisers Inc. now owns 7,526 shares of the medical equipment provider’s stock worth $435,000 after purchasing an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.