Boston Scientific (NYSE:BSX) Price Target Increased to $90.00 by Analysts at UBS Group

Boston Scientific (NYSE:BSX) had its price target increased by UBS Group from $74.00 to $90.00 in a research report report published on Thursday, Benzinga reports. UBS Group currently has a buy rating on the medical equipment provider’s stock.

BSX has been the subject of a number of other research reports. Wells Fargo & Company lifted their price target on Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research note on Thursday. Argus lifted their price target on Boston Scientific from $69.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Robert W. Baird lifted their price target on Boston Scientific from $79.00 to $84.00 and gave the company an outperform rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. Finally, Evercore ISI lifted their target price on shares of Boston Scientific from $72.00 to $78.00 and gave the stock an outperform rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $74.27.

Boston Scientific Stock Down 0.0 %

Shares of BSX traded down $0.02 during trading hours on Thursday, hitting $73.24. The stock had a trading volume of 351,068 shares, compared to its average volume of 6,485,329. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $67.68 and a 200-day simple moving average of $60.37. The firm has a market capitalization of $107.45 billion, a P/E ratio of 61.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $74.39.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.45 EPS. Sell-side analysts predict that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now 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 50,979 shares of company stock valued at $3,418,529 in the last 90 days. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC purchased a new position in Boston Scientific in the fourth quarter worth $28,000. Northwest Investment Counselors LLC purchased a new stake in Boston Scientific during the first quarter valued at about $31,000. Sachetta LLC purchased a new stake in Boston Scientific during the fourth quarter valued at about $32,000. Frazier Financial Advisors LLC purchased a new stake in Boston Scientific during the fourth quarter valued at about $32,000. Finally, Jones Financial Companies Lllp boosted its position in Boston Scientific by 53.0% during the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 193 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.