Boston Scientific (NYSE:BSX) Stock Price Expected to Rise, UBS Group Analyst Says

Boston Scientific (NYSE:BSX) had its price target boosted by UBS Group from $105.00 to $130.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

Several other research firms have also recently commented on BSX. Raymond James boosted their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Bank of America boosted their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. BTIG Research raised their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. 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. Finally, Royal Bank of Canada raised their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $106.00.

Boston Scientific Stock Up 0.3 %

Shares of BSX opened at $105.33 on Friday. The company’s 50-day simple moving average is $94.58 and its 200-day simple moving average is $86.96. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific has a 1 year low of $64.39 and a 1 year high of $107.17. The stock has a market capitalization of $155.24 billion, a PE ratio of 87.05, a P/E/G ratio of 2.68 and a beta of 0.80.

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, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Analysts forecast that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,302 shares of company stock worth $4,464,725. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department acquired a new position in shares of Boston Scientific during the fourth quarter worth about $415,000. Highland Capital Management LLC purchased a new position in Boston Scientific during the fourth quarter worth about $4,887,000. Brookstone Capital Management lifted its position in Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. boosted its holdings in Boston Scientific by 31.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after purchasing an additional 4,702 shares in the last quarter. 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.