Boston Scientific Co. (NYSE:BSX) Short Interest Update

Boston Scientific Co. (NYSE:BSX) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 12,430,000 shares, a growth of 8.3% from the March 15th total of 11,480,000 shares. Based on an average daily trading volume, of 6,410,000 shares, the short-interest ratio is currently 1.9 days.

Insider Activity

In related news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock worth $3,418,529 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in Boston Scientific during the first quarter worth approximately $54,000. Acadian Asset Management LLC acquired a new position in Boston Scientific during the first quarter worth approximately $35,000. Prudential PLC acquired a new position in shares of Boston Scientific in the first quarter valued at approximately $1,076,000. Cetera Investment Advisers increased its holdings in shares of Boston Scientific by 24.0% in the first quarter. Cetera Investment Advisers now owns 28,793 shares of the medical equipment provider’s stock valued at $1,275,000 after purchasing an additional 5,581 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Boston Scientific in the first quarter valued at approximately $230,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Up 1.0 %

Shares of BSX traded up $0.68 during midday trading on Wednesday, hitting $68.12. The company had a trading volume of 6,619,233 shares, compared to its average volume of 4,789,356. The company’s 50-day simple moving average is $67.11 and its 200-day simple moving average is $59.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The firm has a market capitalization of $99.94 billion, a P/E ratio of 63.65, a P/E/G ratio of 2.36 and a beta of 0.78. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $69.21.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter last year, the business posted $0.45 EPS. As a group, sell-side analysts expect that Boston Scientific will post 2.25 EPS for the current year.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of recent research reports. Evercore ISI raised their target price on Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. TD Cowen increased their price target on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Oppenheimer increased their price target on Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. increased their price target on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and increased their price target for the stock from $65.00 to $80.00 in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $68.50.

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.