Boston Scientific Corp. (NYSE:BSX) saw a downside of -0.05% to $53.57 after subtracting -$0.03 on Monday. The 5-day average trading volume is 8,939,953 shares of the company’s common stock. It has gained $55.38 in the past week and touched a new high 2 times within the past 5 days. An average of 8,753,368 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 7,699,815.
BSX’s 1-month performance is 6.23% or $2.84 on its low of $52.47 reached on 09/15/23. The company’s shares have touched a 52-week low of $37.74 and high of $55.38, with the stock’s rally to the 52-week high happening on 09/20/23. YTD, BSX has achieved 15.79% or $7.33 and has reached a new high 31 times. However, the current price is down -3.26% from the 52-week high price.
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Insider Transactions
BSX stock investors last saw insider trading activity on Sep 20.Fitzgerald Joseph Michael (EVP & Group Pres, Cardiology) most recently sold 15,867 shares at $55.00 per share on Sep 20. This transaction cost the insider $872,685. EVP, Human Resources, Carruthers Wendy, sold 11,671 shares at a price of $53.95 on Sep 15. Then, on Sep 12, Chairman, President & CEO Mahoney Michael F sold 113,355 shares at a price of $53.91 per share. This transaction amounted to $6,110,447.
Valuation Metrics
BSX stock has a beta of 0.77. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.85 while the price-to-book (PB) in the most recent quarter is 4.30, with the price to cash flow ratio at 51.95.
Boston Scientific Corp.’s quick ratio for the period ended June 30 was 0.80, with the current ratio over the same period at 1.29. As well, the company’s long term debt to equity for the quarter ending June 30 was 0.49, while the total debt to equity was 0.52. In terms of profitability, the gross margin trailing 12 months is 61.46%. The trailing 12-month EBITDA margin is 23.34% while for the period ending June 30, Boston Scientific Corp.’s operating margin was 14.74%. The firm’s gross profit as reported stood at $8.73 billion against revenue of $12.68 billion.
Earnings Surprise
For the quarterly period ending June 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 11.83% to $279.0 million, while revenue of $328.0 million was -17.56% off the previous quarter. Analysts expected BSX to announce $0.49 per share in earnings in its latest quarter, but it posted $0.53, representing a 8.20% surprise. EBITDA for the quarter stood at more than $869.0 million. BSX stock balance sheet for the quarter ending June 30 shows that total liabilities totaled 15.12 billion, with total debt at $9.45 billion. Shareholders hold equity totaling $1.46 billion.
Let’s look briefly at Boston Scientific Corp. (BSX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 54.84% to suggest the stock is trending Neutral, with historical volatility in this time period at 11.83%.
The stock’s 5-day moving average is $53.66, reflecting a +1.12% or $0.60 change from its current price. BSX is currently trading +5.59% above its 20-day SMA, +1.31% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +1.07% and SMA200 by+18.68%.
Stochastic %K and %D was 42.91% and 44.93% and the average true range (ATR) pointed at 0.92. The RSI (14) points at 55.44%, while the 14-day stochastic is at 38.55% with the period’s ATR at 0.94. The stock’s 9-day MACD Oscillator is pointing at 0.35 and 0.16 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Boston Scientific Corp. (NYSE: BSX), Robert W. Baird launched coverage with an Outperform 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. 5 rates the stock as overweight while 23 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 $55.00 and a high of $68.00, with their median price target at $61.00. Looking at these predictions, the average price target given by analysts is for Boston Scientific Corp. (BSX) stock is $61.50.
