Boston Scientific (NYSE:BSX) Given New $90.00 Price Target at UBS Group

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

Several other brokerages also recently commented on BSX. BTIG Research reaffirmed a buy rating and set a $64.00 target price on shares of Boston Scientific in a report on Friday, December 29th. Oppenheimer upped their target price on Boston Scientific from $58.00 to $68.00 and gave the company a market perform rating in a report on Thursday, February 1st. Needham & Company LLC upped their target price on Boston Scientific from $71.00 to $82.00 and gave the company a buy rating in a report on Wednesday. Citigroup upped their target price on Boston Scientific from $71.00 to $79.00 and gave the company a buy rating in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada upped their price target on Boston Scientific from $70.00 to $78.00 and gave the company an outperform rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of Moderate Buy and an average price target of $74.27.

Boston Scientific Stock Down 0.0 %

BSX stock traded down $0.02 during midday trading on Thursday, hitting $73.24. 351,068 shares of the company’s stock were exchanged, compared to its average volume of 6,485,329. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $74.39. The firm has a 50 day moving average price of $67.68 and a 200-day moving average price of $60.37. The stock has a market capitalization of $107.45 billion, a price-to-earnings ratio of 61.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates 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 prior year, the firm posted $0.45 earnings per share. On average, analysts anticipate that Boston Scientific will post 2.32 EPS for the current year.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the 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 completion of the sale, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now owns 271,542 shares in the company, valued at approximately $17,883,756.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’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 value of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of Boston Scientific

A number of hedge funds have recently modified their holdings of BSX. Bruce G. Allen Investments LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $28,000. Northwest Investment Counselors LLC acquired a new position in shares of Boston Scientific in the 1st quarter worth approximately $31,000. Sachetta LLC acquired a new position in shares of Boston Scientific in the 4th quarter worth approximately $32,000. Frazier Financial Advisors LLC acquired a new stake in shares of Boston Scientific in the 4th quarter valued at $32,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Boston Scientific by 53.0% in the 4th 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. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Company Profile

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.