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

Boston Scientific (NYSE:BSX) had its price objective hoisted by analysts at UBS Group from $74.00 to $90.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. UBS Group’s target price points to a potential upside of 22.87% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. BTIG Research restated a “buy” rating and set a $64.00 target price on shares of Boston Scientific in a research report on Friday, December 29th. Argus increased their price objective on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada increased their price objective on Boston Scientific from $70.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Oppenheimer increased their price target on Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, February 1st. Finally, StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 16th. Two equities research 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 MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Boston Scientific Trading Up 0.5 %

Boston Scientific stock traded up $0.34 during mid-day trading on Thursday, hitting $73.25. The stock had a trading volume of 2,072,247 shares, compared to its average volume of 6,479,323. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $74.39. The stock has a 50-day simple moving average of $67.53 and a two-hundred day simple moving average of $60.28. 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 capitalization of $107.47 billion, a PE ratio of 68.40, a P/E/G ratio of 2.42 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 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 the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same period in the previous year, the company posted $0.45 EPS. As a group, sell-side analysts forecast that Boston Scientific will post 2.25 EPS for the current year.

Insider Buying and Selling

In related news, Director Edward J. Ludwig sold 7,000 shares of the company’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 owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP John Bradley Sorenson sold 16,351 shares of the company’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 sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the company’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 sale, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its stake in shares of Boston Scientific by 5.6% in the third quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after acquiring an additional 27,620 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Boston Scientific in the fourth quarter valued at $5,116,000. Glenmede Trust Co. NA raised its stake in shares of Boston Scientific by 12.1% in the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after acquiring an additional 1,123 shares during the period. Principal Financial Group Inc. raised its stake in shares of Boston Scientific by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock valued at $98,683,000 after acquiring an additional 38,249 shares during the period. Finally, HealthInvest Partners AB purchased a new stake in shares of Boston Scientific in the fourth quarter valued at $3,746,000. 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.