Boston Scientific (NYSE:BSX) Price Target Raised to $130.00 at UBS Group

Boston Scientific (NYSE:BSX) had its price target increased by stock analysts at UBS Group from $105.00 to $130.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. UBS Group’s price objective would suggest a potential upside of 23.03% from the company’s current price.

Several other research firms have also recently commented on BSX. Canaccord Genuity Group boosted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. upped their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Mizuho raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $106.00.

Boston Scientific Stock Up 0.6 %

Shares of NYSE BSX traded up $0.65 during midday trading on Friday, hitting $105.67. The company’s stock had a trading volume of 1,648,325 shares, compared to its average volume of 6,091,158. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific has a 1 year low of $64.39 and a 1 year high of $107.17. The firm has a market capitalization of $155.73 billion, a price-to-earnings ratio of 87.22, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. The business’s fifty day simple moving average is $94.58 and its two-hundred day simple moving average is $86.96.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. On average, equities analysts predict that Boston Scientific will post 2.46 EPS for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,302 shares of company stock worth $4,464,725 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Hedge funds have recently made changes to their positions in the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Boston Scientific during the third quarter worth approximately $326,000. Daymark Wealth Partners LLC purchased a new stake in Boston Scientific during the 3rd quarter worth $281,000. Wedmont Private Capital increased its holdings in Boston Scientific by 9.2% in the 3rd quarter. Wedmont Private Capital now owns 18,730 shares of the medical equipment provider’s stock valued at $1,581,000 after purchasing an additional 1,574 shares in the last quarter. Cypress Wealth Services LLC acquired a new position in shares of Boston Scientific during the third quarter worth about $219,000. Finally, UMB Bank n.a. boosted its position in shares of Boston Scientific by 2,120.6% in the third quarter. UMB Bank n.a. now owns 39,149 shares of the medical equipment provider’s stock worth $3,281,000 after buying an additional 37,386 shares during the period. Institutional investors and hedge funds 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.