Boston Scientific (NYSE:BSX) Given New $130.00 Price Target at UBS Group

Boston Scientific (NYSE:BSX) had its target price lifted by UBS Group from $105.00 to $130.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

Several other equities research analysts have also recently weighed in on BSX. Stifel Nicolaus increased their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Truist Financial increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Canaccord Genuity Group increased their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Piper Sandler increased their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Buy” and an average price target of $106.00.

Boston Scientific Trading Up 0.3 %

Shares of NYSE BSX opened at $105.33 on Friday. 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 52-week low of $64.39 and a 52-week high of $107.17. The firm has a 50 day moving average price of $94.88 and a two-hundred day moving average price of $87.21. The stock has a market cap of $155.24 billion, a P/E ratio of 84.26, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. As a group, equities analysts forecast that Boston Scientific will post 2.83 EPS for the current year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the sale, the executive vice president now owns 29,308 shares in the company, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. This trade represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,302 shares of company stock valued at $4,464,725 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of large investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC increased its holdings in Boston Scientific by 14.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 30,271 shares of the medical equipment provider’s stock worth $2,704,000 after buying an additional 3,879 shares during the last quarter. Wealth High Governance Capital Ltda purchased a new stake in Boston Scientific during the fourth quarter worth about $4,444,000. Fairway Wealth LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth about $36,000. Citizens Financial Group Inc. RI increased its stake in shares of Boston Scientific by 78.0% in the fourth quarter. Citizens Financial Group Inc. RI now owns 8,970 shares of the medical equipment provider’s stock worth $801,000 after purchasing an additional 3,931 shares in the last quarter. Finally, Sage Mountain Advisors LLC increased its stake in shares of Boston Scientific by 12.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 7,417 shares of the medical equipment provider’s stock worth $663,000 after purchasing an additional 822 shares in the last quarter. Hedge funds and other institutional investors 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.