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

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

A number of other brokerages have also recently issued reports on BSX. Citigroup boosted their price objective on Boston Scientific from $71.00 to $79.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. StockNews.com downgraded Boston Scientific from a buy rating to a hold rating in a research note on Saturday, March 16th. Needham & Company LLC increased their price objective on Boston Scientific from $71.00 to $82.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Argus boosted their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Finally, Evercore ISI raised their price target 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 equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $75.09.

Boston Scientific Stock Down 0.1 %

BSX opened at $73.17 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’s fifty day simple moving average is $67.82 and its 200 day simple moving average is $60.63. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $74.39. The stock has a market cap of $107.35 billion, a PE ratio of 61.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued 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 company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, research analysts expect that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other 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 directly owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was 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 $2,690,551.22. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock worth $3,418,529 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds have recently modified their holdings of the business. Pinnacle Associates Ltd. raised its position in Boston Scientific by 2.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 148 shares during the last quarter. BSW Wealth Partners boosted its holdings in Boston Scientific by 2.3% in the fourth quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock valued at $428,000 after acquiring an additional 165 shares during the last quarter. Allstate Corp increased its position in Boston Scientific by 2.9% during the 4th quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock valued at $343,000 after purchasing an additional 165 shares during the period. First Affirmative Financial Network increased its position in Boston Scientific by 4.3% during the 1st quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock valued at $276,000 after purchasing an additional 166 shares during the period. Finally, Valley National Advisers Inc. raised its holdings 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 during the last quarter. Institutional investors and hedge funds 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.