Boston Scientific (NYSE:BSX) Price Target Raised to $135.00 at UBS Group

Boston Scientific (NYSE:BSX - Get Free Report) had its price objective lifted by research analysts at UBS Group from $130.00 to $135.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the medical equipment provider's stock. UBS Group's price objective would indicate a potential upside of 27.99% from the company's previous close.

Several other brokerages also recently commented on BSX. Needham & Company LLC reiterated a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. Truist Financial upped their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a report on Thursday. Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Leerink Partners initiated coverage on shares of Boston Scientific in a research note on Monday, June 16th. They issued an "outperform" rating and a $118.00 target price on the stock. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of "Buy" and a consensus price target of $117.50.

Boston Scientific Price Performance

BSX stock traded down $2.28 during mid-day trading on Thursday, hitting $105.48. The company had a trading volume of 5,034,255 shares, compared to its average volume of 7,720,781. The company has a 50-day moving average price of $103.55 and a 200 day moving average price of $101.31. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $156.05 billion, a price-to-earnings ratio of 76.96, a P/E/G ratio of 3.00 and a beta of 0.68. Boston Scientific has a 12-month low of $71.88 and a 12-month high of $108.94.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business's revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. On average, research analysts anticipate that Boston Scientific will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $106.97, for a total value of $5,348,500.00. Following the sale, the executive vice president owned 178,342 shares in the company, valued at $19,077,243.74. This represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the sale, the executive vice president owned 18,705 shares in the company, valued at $1,955,420.70. The trade was a 19.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 457,144 shares of company stock worth $47,296,288 over the last ninety days. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew its position in Boston Scientific by 90.9% during the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 120 shares during the period. 1248 Management LLC acquired a new stake in shares of Boston Scientific in the first quarter valued at about $26,000. Y.D. More Investments Ltd acquired a new stake in shares of Boston Scientific in the first quarter valued at about $27,000. Investment Management Corp VA ADV acquired a new stake in shares of Boston Scientific in the fourth quarter valued at about $25,000. Finally, Colonial Trust Co SC grew its position in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 260 shares during the period. 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.

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