The stock of Boston Scientific Corporation (NYSE:BSX) increased by $0.37 on Friday to finish at $51.40, up 0.72 percent. The last five days have seen an average of 5,491,944 shares of common stock traded. 28 times new highs were reached in the current year, with a gain of $5.15. The average number of shares traded over the last 20 days was 7,054,706, while the average volume over the last 50 days totaled 6,743,306.
BSX stock dropped -3.08% since last month. On 08/08/23, the company’s shares reached a one-month low of $49.69. The stock touched a high of $54.74 on 06/23/23, after rallying from a low of $37.74 in 52 weeks. The price of BSX stock has risen by 11.08% or $5.15 this year, reaching a new high 28 times. Still, the stock price is down -6.12% from the 52-week high.
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Insider Transactions
BSX stock investors should be aware that Boston Scientific Corporation (BSX) stock had its last reported insider trading activity 28 days ago on Jul 17. On Jul 17, EVP, Human Resources Carruthers Wendy sold 11,671 shares at $52.85 each. This transaction resulted in the insider making $616,774. On Jun 21, Butcher Arthur C sold 6,697 shares at a price of US$53.80. After the transaction, the insider now owns 17,453 shares. EVP, Human Resources Carruthers Wendy had earlier sold 11,671 shares on Jun 15 for $53.24 a share. The transaction was completed for $621,359.
Valuation Metrics
Boston Scientific Corporation (BSX) has a trailing price-to-earnings (P/E) ratio of 86.52. Beta for the stock is 0.78. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.60, the price-to-book (PB) ratio of 4.08, and the price-to-cash flow ratio of 49.74.
Financial Health
For the three months ended June 29, Boston Scientific Corporation’s quick ratio was 0.80, while its current ratio was 1.30, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.47, and the total debt to equity ratio is 0.50. As far as profitability goes, gross margin for the trailing twelve months is 69.70% percent. Boston Scientific Corporation’s EBITDA margin for the year ended June 29 was 23.34%, whereas its operating margin stood at 13.60% for the same period. Based on annual data, it had gross profit of $8.73 billion and revenue of $12.68 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BSX’s return on assets (ROA) during the last 12 months has been 2.60%. There was a 3.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 4.80%.
Earnings Surprise
According to Boston Scientific Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $3.6 billion, while revenues rose by 9.89% to $3.39 billion. It was predicted that Boston Scientific Corporation’s quarterly earnings would be $0.53, but it ended up being $0.49, beating the consensus by 8.20%. EBITDA was $869.0 million for the quarter. At the end of Boston Scientific Corporation’s most recent quarter ended June 29, its liabilities totaled 15.12 billion, while its total debt was $9.45 billion. Equity owned by shareholders amounts to $1.46 billion.
Technical Picture
Here’s a quick look at Boston Scientific Corporation’s (BSX) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 49.22%, suggesting the stock is Neutral, with a 15.18% historical volatility rate.
The stochastic %K and %D were 33.14% and 30.07% respectively, while the average true range (ATR) was 0.87. Based on the 14-day stochastic reading of 40.63%, the RSI (14) reading is 46.37%. On the 9-day MACD Oscillator, the stock is at 0.23, and the 14-day reading is at -0.21.
Analyst Ratings
In its analyst report released on July 19, 2023, Robert W. Baird began covering Boston Scientific Corporation (NYSE: BSX). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned Boston Scientific Corporation (BSX) an Buy rating. BSX is a stock that is recommended for selling by 0 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 6 rates it overweight and 23 others recommend it as a buy.
What is BSX’s price target for the next 12 months?
The current consensus forecast for the stock is between $55.00 and $68.00, with a median target price of $60.50. In analyzing these forecasts, the average price target given by analysts for Boston Scientific Corporation (BSX) is $60.46.
