Boston Scientific Corporation (BSX): Technicals Say You should Hold


Boston Scientific Corporation (NYSE:BSX) saw an upside of 0.50% to close Monday at $45.85 after adding $0.23 on the day. The 5-day average trading volume is 6,265,060 shares of the company’s common stock. It has gained $46.55 in the past week and touched a new high 1 time within the past 5 days. An average of 6,098,705 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,141,816.

BSX’s 1-month performance is 0.02% or -$0.21 on its low of $44.35 reached on 01/11/23. The company’s shares have touched a 52-week low of $34.98 and high of $47.95, with the stock’s rally to the 52-week high happening on 01/13/23. YTD, BSX has lost -0.91% or -$0.42 and has reached a new high 2 times. However, the current price is down -4.38% from the 52-week high price.

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Insider Transactions

BSX stock investors last saw insider trading activity on Jan 04.Mirviss Jeffrey B. (EVP&Pres, Periph Intervent) most recently sold 6,751 shares at $46.38 per share on Jan 04. This transaction cost the insider $313,123. EVP, Human Resources, Carruthers Wendy, sold 7,500 shares at a price of $46.62 on Dec 15. Then, on Dec 13, EVP & Group Pres, Cardiology Fitzgerald Joseph Michael sold 79,264 shares at a price of $47.78 per share. This transaction amounted to $3,787,234.

Valuation Metrics

BSX stock has a beta of 0.80. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.21 while the price-to-book (PB) in the most recent quarter is 3.72, with the price to cash flow ratio at 117.91.

Boston Scientific Corporation’s quick ratio for the period ended September 29 was 0.90, with the current ratio over the same period at 1.40. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.49, while the total debt to equity was 0.49. In terms of profitability, the gross margin trailing 12 months is 68.90%. The firm’s gross profit as reported stood at $8.18 billion against revenue of $11.89 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -132.76% to $174.0 million, while revenue of $246.0 million was -41.38% off the previous quarter. Analysts expected BSX to announce $0.44 per share in earnings in its latest quarter, but it posted $0.43, representing a -2.30% surprise. EBITDA for the quarter stood at more than $767.0 million. BSX stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 14.31 billion, with total debt at $8.93 billion. Shareholders hold equity totaling $1.43 billion.

Let’s look briefly at Boston Scientific Corporation (BSX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 49.51% to suggest the stock is trending Neutral, with historical volatility in this time period at 18.14%.

The stock’s 5-day moving average is $45.61, reflecting a -1.46% or -$0.68 change from its current price. BSX is currently trading -0.50% above its 20-day SMA, +13.52% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +9.38% and SMA200 by+3.38%.

Stochastic %K and %D was 53.01% and 48.00% and the average true range (ATR) pointed at 0.83. The RSI (14) points at 50.92%, while the 14-day stochastic is at 61.48% with the period’s ATR at 0.84. The stock’s 9-day MACD Oscillator is pointing at -0.26 and -0.31 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Boston Scientific Corporation (NYSE: BSX), Mizuho launched coverage with a Neutral rating. Analysts offering their rating for BSX stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate BSX as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 4 rates the stock as overweight while 21 have offered a “buy” rating.

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

Analysts have a consensus price target ranging from a low of $45.00 and a high of $56.00, with their median price target at $52.00. Looking at these predictions, the average price target given by analysts is for Boston Scientific Corporation (BSX) stock is $51.44.


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