Boston Scientific Co. (NYSE:BSX) Short Interest Update

Boston Scientific Co. (NYSE:BSX) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 10,920,000 shares, a drop of 10.5% from the September 15th total of 12,200,000 shares. Based on an average daily trading volume, of 5,540,000 shares, the short-interest ratio is currently 2.0 days.

Insider Buying and Selling at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 316,253 shares of company stock worth $26,714,298. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC lifted its position in shares of Boston Scientific by 20.8% during the third quarter. V Square Quantitative Management LLC now owns 11,133 shares of the medical equipment provider’s stock worth $933,000 after purchasing an additional 1,914 shares during the last quarter. CHB Investment Group LLC purchased a new position in Boston Scientific in the third quarter valued at about $2,900,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Boston Scientific by 2.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 172,494 shares of the medical equipment provider’s stock valued at $14,455,000 after acquiring an additional 3,433 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Boston Scientific by 11.5% in the 3rd quarter. Global Retirement Partners LLC now owns 4,370 shares of the medical equipment provider’s stock worth $366,000 after purchasing an additional 449 shares in the last quarter. Finally, Summit Investment Advisory Services LLC acquired a new stake in Boston Scientific in the third quarter worth about $212,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Evercore ISI lifted their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Canaccord Genuity Group increased their price objective on shares of Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Barclays lifted their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.55.

Boston Scientific Price Performance

Shares of BSX stock traded down $0.57 during mid-day trading on Thursday, hitting $86.43. The company had a trading volume of 4,559,616 shares, compared to its average volume of 5,955,367. The company has a market capitalization of $126.80 billion, a P/E ratio of 73.04, a P/E/G ratio of 2.87 and a beta of 0.80. Boston Scientific has a 52-week low of $49.15 and a 52-week high of $88.09. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The stock’s 50 day moving average price is $82.03 and its 200-day moving average price is $76.89.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. Equities research analysts forecast that Boston Scientific will post 2.4 earnings per share for the current year.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.