As of Friday close, Boston Scientific Corporation’s (NYSE:BSX) stock was down -$0.16, moving down -0.31 percent to $50.72. The average number of shares traded per day over the past five days has been 6,381,440 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.97 fall in that time frame. In the last twenty days, the average volume was 6,750,985, while in the previous 50 days, it was 7,257,504.
Since last month, BSX stock retreated -4.08%. Shares of the company fell to $50.46 on 08/03/23, the lowest level in the past month. A 52-week high of $54.74 was reached on 06/23/23 after having rallying from a 52-week low of $37.74. Since the beginning of this year, BSX’s stock price has risen by 9.62% or $4.45, and marked a new high 28 times. However, the stock has declined by -7.35% since its 52-week high.
BSX stock investors should be aware that Boston Scientific Corporation (BSX) stock had its last reported insider trading activity 19 days ago on Jul 17. Carruthers Wendy, the EVP, Human Resources of the company, disposed of 11,671 shares for $52.85 on Jul 17. It resulted in a $616,774 divestment by the insider. Butcher Arthur C sold 6,697 shares at an average price of $53.80 on Jun 21. The insider now owns 17,453 shares following the transaction. On Jun 15, EVP, Human Resources Carruthers Wendy sold 11,671 shares at $53.24 apiece. The transaction was valued at $621,359.
Valuation Metrics
Right now, Boston Scientific Corporation (BSX) has a P/E ratio of about 86.55. The stock’s beta is 0.78. Besides these, the trailing price-to-sales (P/S) ratio of 5.69, the price-to-book (PB) ratio of 4.08, and the price-to-cash flow ratio of 79.17 may also be considered.
Financial Health
In the three months ended June 29, Boston Scientific Corporation’s quick ratio stood at 0.90, while its current ratio was 1.40, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.48, and the total debt-to-equity ratio was 0.50. On the profitability front, the trailing twelve-month gross margin is 69.20% percent. In the year ended June 29, EBITDA margin amounted to 23.34%, whereas operating margins totaled 11.20%. Based on annual data, BSX earned $8.73 billion in gross profit and brought in $12.68 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 3.80%. Return on equity (ROE) for the past 12 months was 3.70%.
In Boston Scientific Corporation’s quarter-end financial report for June 29, it reported total debt of $8.49 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. BSX’s revenue rose 9.89% to $3.39 billion during the quarter, while net income inched up to $3.6 billion. While analysts expected Boston Scientific Corporation to report $0.49 quarterly earnings, the actual figure was $0.53 per share, beating the consensus estimate by 8.20%. During the quarter, the company generated $869.0 million in EBITDA. The liabilities of Boston Scientific Corporation were 15.12 billion at the end of its most recent quarter ended June 29, and its total debt was $9.37 billion. The value of shareholders’ equity is $1.46 billion.
Technical Picture
This quick technical analysis looks at Boston Scientific Corporation’s (BSX) price momentum. With a historical volatility rate of 16.07%, the RSI 9-day stood at 31.66% on 04 August.
With respect to its five-day moving average, the current Boston Scientific Corporation price is down by -1.88% percent or -$0.97. At present, BSX shares trade -3.00% below its 20-day simple moving average and +6.55% percent above its 100-day simple moving average. However, the stock is currently trading approximately -1.51% below its SMA50 and +24.13% above its SMA200.
Stochastic coefficient K was 7.11% and Stochastic coefficient D was 12.66%, while ATR was 1.01. Given the Stochastic reading of 7.43% for the 14-day period, the RSI (14) reading has been calculated as 36.46%. As of today, the MACD Oscillator reading stands at -0.94, while the 14-day reading stands at -1.33.
Analyst Ratings
Robert W. Baird launched its rating on Boston Scientific Corporation (NYSE: BSX) to an Outperform in a note to investors on July 19, 2023. Boston Scientific Corporation (BSX) has been rated Buy by analysts. According to 0 brokerage firms, BSX is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 6 analysts rate Boston Scientific Corporation stock as buy, with 23 recommending it as overweight.
With a median target price of $60.50, the current consensus forecast for the stock is $55.00 – $68.00. Based on these forecasts, analysts predict Boston Scientific Corporation (BSX) will achieve an average price target of $60.46.
