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

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

Boston Scientific Stock Performance

Shares of BSX traded down $0.57 during trading hours on Thursday, hitting $86.43. The company’s stock had a trading volume of 4,559,616 shares, compared to its average volume of 5,955,367. The business has a 50 day simple moving average of $82.25 and a two-hundred day simple moving average of $76.95. 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 company has a market cap of $126.80 billion, a price-to-earnings ratio of 72.63, a PEG ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. On average, equities analysts expect that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BSX. JPMorgan Chase & Co. lifted their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Needham & Company LLC increased their price objective on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Evercore ISI lifted their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.55.

Insider Activity

In related news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction 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 sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their position. The sale 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 Boston Scientific stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 316,253 shares of company stock worth $26,714,298 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. CRA Financial Services LLC raised its stake in Boston Scientific by 4.3% in the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after purchasing an additional 117 shares in the last quarter. CVA Family Office LLC raised its position in shares of Boston Scientific by 7.4% during the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after buying an additional 131 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Boston Scientific by 0.6% during the 2nd quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock worth $1,740,000 after acquiring an additional 139 shares during the last quarter. ST Germain D J Co. Inc. grew its position in Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after acquiring an additional 143 shares in the last quarter. Finally, Transcend Capital Advisors LLC increased its stake in Boston Scientific by 2.2% in the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 148 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

About Boston Scientific

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.