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

Boston Scientific (NYSE:BSX) had its target price hoisted by investment analysts at UBS Group from $74.00 to $90.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. UBS Group’s price objective would suggest a potential upside of 22.87% from the company’s previous close.

BSX has been the subject of a number of other research reports. Robert W. Baird increased their price target on Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday. Needham & Company LLC boosted their target price on Boston Scientific from $71.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday. Raymond James boosted their price objective on Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 1st. Citigroup lifted their price target on Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, Argus increased their price objective on Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Boston Scientific Price Performance

BSX traded up $0.34 on Thursday, hitting $73.25. 2,072,247 shares of the company’s stock were exchanged, compared to its average volume of 6,479,323. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $74.39. 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 firm has a 50-day moving average price of $67.53 and a 200-day moving average price of $60.28. The stock has a market cap of $107.47 billion, a price-to-earnings ratio of 68.40, a P/E/G ratio of 2.42 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced 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. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, equities analysts anticipate that Boston Scientific will post 2.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 completion of the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock worth $3,418,529 over the last quarter. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in Boston Scientific by 5.6% in the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after buying an additional 27,620 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Boston Scientific in the 4th quarter valued at about $5,116,000. Glenmede Trust Co. NA grew its position in shares of Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after purchasing an additional 1,123 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Boston Scientific by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after purchasing an additional 38,249 shares in the last quarter. Finally, HealthInvest Partners AB acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $3,746,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.