Boston Scientific Corp. (NYSE:BSX) finished Wednesday with a subtraction of -$0.73 to close at $52.10, a downside of -1.38 percent. An average of 8,566,720 shares of common stock have been traded in the last five days. There was a fall of -$2.00 in the past week, and it reached a new high 49 times over the past 12 months. The last 20 days have seen an average of 8,099,260 shares traded, while the 50-day average volume stands at 7,912,046.
BSX stock has decreased by -3.14% in the last month. The company shares reached their 1-month lowest point of $51.54 on 09/27/23. With the stock rallying to its 52-week high on 09/20/23, shares of the company touched a low of $37.74 and a high of $55.38 in 52 weeks. It has reached a new high 31 times so far this year and achieved 12.60% or $5.83 in price. In spite of this, the price is down -5.92% from the 52-week high.
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Insider Transactions
BSX stock investors should be aware that Boston Scientific Corp. (BSX) stock had its last reported insider trading activity 8 days ago on Sep 20. In this transaction, the insider spent $872,685. EVP, Human Resources, Carruthers Wendy, disposed of 11,671 shares at a price of $53.95 on Sep 15. The insider now owns more than $629,694 worth of shares. Prior to that, Chairman, President & CEO Mahoney Michael F went on to Sale 113,355 shares at $53.91 each on Sep 12. An amount of $6,110,447 was transacted.
Valuation Metrics
Boston Scientific Corp. (BSX) has a trailing price-to-earnings (P/E) ratio of 87.58. The stock’s beta is 0.77. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.69, the price-to-book (PB) ratio at 4.18, and the price-to-cash flow ratio at 50.52.
Financial Health
The quick ratio of Boston Scientific Corp. for the three months ended June 29 was 0.80, and the current ratio was 1.29, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.49 and a total debt to equity ratio of 0.52 for the quarter ending June 29. Boston Scientific Corp.’s EBITDA margin for the year ending June 29 is 23.34%, while its operating margin for the same period stands at 14.74%. Its gross profit as reported stood at $8.73 billion compared to revenue of $12.68 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Boston Scientific Corp.’s return on assets was 2.77%.
Earnings Surprise
For the three-month period that ended June 29, Boston Scientific Corp. had $8.49 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $279.0 million in the quarter, while revenues were grew 11.83%. The analyst consensus anticipated Boston Scientific Corp.’s latest quarter earnings to come in at $0.49 per share, but it turned out to be $0.53, a 8.20% surprise. For the quarter, EBITDA amounted to $869.0 million. Shareholders own equity worth $1.46 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Boston Scientific Corp. (BSX) price momentum. RSI 9-day as of the close on 27 September was 35.83%, suggesting the stock is Neutral, with historical volatility in this time frame at 16.40%.
As of today, BSX’s price is $53.26 -3.70% or -$2.00 from its 5-day moving average. BSX is currently trading -4.72% lower than its 20-day SMA and +0.31% higher than its 100-day SMA. However, the stock’s current price level is -1.34% below the SMA50 and +12.48% above the SMA200.
The stochastic %K and %D were 24.14% and 33.86%, respectively, and the average true range (ATR) was 1.03. With the 14-day stochastic at 14.58% and the average true range at 1.01, the RSI (14) stands at 42.41%. The stock has reached -0.35 on the 9-day MACD Oscillator while the 14-day reading was at -0.47.
Analyst Ratings
Robert W. Baird launched coverage on Boston Scientific Corp. (NYSE: BSX) in its analyst report released on July 19, 2023. The firm assigned the stock an Outperform rating.
