As of Wednesday close, Boston Scientific Corporation’s (NYSE:BSX) stock was up $1.07, moving up 2.02 percent to $54.10. The average number of shares traded per day over the past five days has been 10,186,561 shares. 3 times new highs have been achieved over the past 5 days, with a $0.90 gain in that time frame. In the last twenty days, the average volume was 8,774,396, while in the previous 50 days, it was 7,543,714.
Since last month, BSX stock rose 7.30%. Shares of the company fell to $50.02 on 08/23/23, the lowest level in the past month. A 52-week high of $54.99 was reached on 09/20/23 after having rallying from a 52-week low of $37.74. Since the beginning of this year, BSX’s stock price has risen by 16.92% or $7.83, and marked a new high 31 times. However, the stock has declined by -1.62% since its 52-week high.
BSX stock investors should be aware that Boston Scientific Corporation (BSX) stock had its last reported insider trading activity 6 days ago on Sep 15. Carruthers Wendy, the EVP, Human Resources of the company, disposed of 11,671 shares for $53.95 on Sep 15. It resulted in a $629,694 divestment by the insider. Mahoney Michael F sold 113,355 shares at an average price of $53.91 on Sep 12. The insider now owns 1,498,922 shares following the transaction. On Aug 29, EVP&Pres, Periph Intervent Mirviss Jeffrey B. sold 4,657 shares at $54.50 apiece. The transaction was valued at $253,811.
Valuation Metrics
Right now, Boston Scientific Corporation (BSX) has a P/E ratio of about 91.08. The stock’s beta is 0.78. Besides these, the trailing price-to-sales (P/S) ratio of 5.91, the price-to-book (PB) ratio of 4.29, and the price-to-cash flow ratio of 52.55 may also be considered.
Financial Health
In the three months ended June 30, Boston Scientific Corporation’s quick ratio stood at 0.80, while its current ratio was 1.30, 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 30 was 0.47, and the total debt-to-equity ratio was 0.50. On the profitability front, the trailing twelve-month gross margin is 69.70% percent. In the year ended June 30, EBITDA margin amounted to 23.34%, whereas operating margins totaled 13.60%. 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 4.80%.
In Boston Scientific Corporation’s quarter-end financial report for June 30, 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 30, and its total debt was $9.45 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 17.18%, the RSI 9-day stood at 63.79% on 20 September.
With respect to its five-day moving average, the current Boston Scientific Corporation price is up by +1.69% percent or $0.90. At present, BSX shares trade +7.32% above its 20-day simple moving average and +3.98% percent above its 100-day simple moving average. However, the stock is currently trading approximately +3.15% above its SMA50 and +17.30% above its SMA200.
Stochastic coefficient K was 32.96% and Stochastic coefficient D was 28.25%, while ATR was 1.07. Given the Stochastic reading of 55.94% for the 14-day period, the RSI (14) reading has been calculated as 60.77%. As of today, the MACD Oscillator reading stands at -0.07, while the 14-day reading stands at -0.17.
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 5 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 $60.50.
