How Boston Scientific Corporation (BSX) Works From A Technical Perspective

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Boston Scientific Corporation (NYSE:BSX) finished Thursday with a subtraction of -$0.46 to close at $39.30, a downside of -1.16 percent. An average of 7,141,140 shares of common stock have been traded in the last five days. There was a fall of -$2.90 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 6,651,560 shares traded, while the 50-day average volume stands at 6,779,708.

BSX stock has decreased by -3.82% in the last month. The company shares reached their 1-month lowest point of $39.13 on 09/22/22. With the stock rallying to its 52-week high on 04/20/22, shares of the company touched a low of $34.98 and a high of $47.49 in 52 weeks. It has reached a new high 6 times so far this year and lost -7.49% or -$3.18 in price. In spite of this, the price is down -17.25% from the 52-week high.


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Insider Transactions

8 days have passed since Boston Scientific Corporation (BSX) last reported insider trading activity. Carruthers Wendy, who is EVP, Human Resources, most recently acquired $7,500 shares at $42.21 per share on Sep 15. In this transaction, the insider spent $316,586. Chairman, President & CEO, Mahoney Michael F, disposed of 125,828 shares at a price of $40.49 on Sep 06. The insider now owns more than $5,094,310 worth of shares. Prior to that, EVP, Human Resources Carruthers Wendy went on to Sale 7,500 shares at $42.03 each on Aug 15. An amount of $315,260 was transacted.

Valuation Metrics

Boston Scientific Corporation (BSX) has a trailing price-to-earnings (P/E) ratio of 68.23. The stock’s beta is 0.84. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.62, the price-to-book (PB) ratio at 3.26, and the price-to-cash flow ratio at 95.85.

Financial Health

The quick ratio of Boston Scientific Corporation for the three months ended June 29 was 0.90, and the current ratio was 1.30, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.51 and a total debt to equity ratio of 0.52 for the quarter ending June 29. Its gross profit as reported stood at $8.18 billion compared to revenue of $11.89 billion.

Earnings Surprise

For the three-month period that ended June 29, Boston Scientific Corporation had $8.8 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $246.0 million in the quarter, while revenues were grew 30.08%. The analyst consensus anticipated Boston Scientific Corporation’s latest quarter earnings to come in at $0.42 per share, but it turned out to be $0.44, a 4.80% surprise. For the quarter, EBITDA amounted to $713.0 million. Shareholders own equity worth $1.43 billion.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Boston Scientific Corporation (BSX) price momentum. RSI 9-day as of the close on 22 September was 29.23%, suggesting the stock is oversold, with historical volatility in this time frame at 16.76%.

As of today, BSX’s price is $40.47 -6.87% or -$2.90 from its 5-day moving average. BSX is currently trading -4.50% lower than its 20-day SMA and -6.67% lower than its 100-day SMA. However, the stock’s current price level is +6.88% above the SMA50 and -3.44% below the SMA200.

The stochastic %K and %D were 5.42% and 17.87%, respectively, and the average true range (ATR) was 0.93. With the 14-day stochastic at 3.88% and the average true range at 0.90, the RSI (14) stands at 36.91%. The stock has reached -1.53 on the 9-day MACD Oscillator while the 14-day reading was at -1.62.

Analyst Ratings

Wolfe Research launched coverage on Boston Scientific Corporation (NYSE: BSX) in its analyst report released on July 06, 2022. The firm assigned the stock an Outperform rating.

What is BSX’s price target for the next 12 months?

Analysts predict a range of price targets between $43.00 and $53.00, with a median target of $48.00. Taking a look at these predictions, the average price target given by analysts for Boston Scientific Corporation (BSX) stock is $48.47.

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