Boston Scientific Corporation (BSX) – Don’t Be So Quick to Call it Dead

Boston Scientific Corporation (NYSE: BSX) is -9.29% lower on its value in year-to-date trading and has touched a low of $24.10 and a high of $46.62 in the current 52-week trading range. The BSX stock was last observed hovering at around $41.03 in the last trading session, with the day’s loss setting it -0.01% off its average median price target of $46.50 for the next 12 months. It is also 17.96% off the consensus price target high of $50.00 offered by 24 analysts, but current levels are 4.6% higher than the price target low of $43.00 for the same period.

Currently trading at $41.02, the stock is 4.92% and 9.64% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.45 million and changing -0.02% at the moment leaves the stock 6.21% off its SMA200. BSX registered -4.00% loss for a year compared to 6-month gain of 10.18%. The firm has a 50-day simple moving average (SMA 50) of $1.15% and a 200-day simple moving average (SMA200) of $14.89M.

The stock witnessed a 6.35% loss in the last 1 month and extending the period to 3 months gives it a 9.27%, and is 5.34% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.20% over the week and 1.90% over the month.

Boston Scientific Corporation (BSX) has around 36000 employees, a market worth around $58.33B and $10.16B in sales. Fwd P/E is 24.68. Profit margin for the company is 39.20%. Distance from 52-week low is 70.21% and -12.01% from its 52-week high. The company has generated returns on investments over the last 12 months (6.00%).

Boston Scientific Corporation (BSX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Boston Scientific Corporation (BSX) is a “Buy”. 24 analysts offering their recommendations for the stock have an average rating of 1.60, where 2 rate it as a Hold and 1 think it is a “Overweight”. 20 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Boston Scientific Corporation is expected to release its quarterly report on 10/21/2020 and quarterly earnings per share for the current quarter are estimated at $0.24 with sales reaching $2.51B over the same period.The EPS is expected to shrink by -63.00% this year, but quarterly earnings will post -6.30% year-over-year. Quarterly sales are estimated to shrink -7.40% in year-over-year returns.

Boston Scientific Corporation (BSX) Top Institutional Holders

1,209 institutions hold shares in Boston Scientific Corporation (BSX), with 3.48M shares held by insiders accounting for 0.24% while institutional investors hold 95.58% of the company’s shares. The shares outstanding are 1.43B, and float is at 1.43B with Short Float at 1.15%. Institutions hold 95.35% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 124.15 million shares valued at $4.36 billion. The investor’s holdings represent 8.68% of the BSX Shares outstanding. As of Jun 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 113.12 million shares valued at $3.97 billion to account for 7.91% of the shares outstanding. The other top investors are Capital World Investors which holds 84.36 million shares representing 5.90% and valued at over $2.96 billion, while FMR, LLC holds 4.75% of the shares totaling 67.94 million with a market value of $2.39 billion.

Boston Scientific Corporation (BSX) Insider Activity

A total of 38 insider transactions have happened at Boston Scientific Corporation (BSX) in the last six months, with sales accounting for 22 and purchases happening 16 times. The most recent transaction is an insider sale by Nanavaty Maulik, the company’s SVP & Pres, Neuromodulation. SEC filings show that Nanavaty Maulik sold 38,000 shares of the company’s common stock on Aug 28 at a price of $40.45 per share for a total of $1.54 million. Following the sale, the insider now owns 0.23 million shares.

Boston Scientific Corporation disclosed in a document filed with the SEC on Aug 26 that Sorenson John Bradley (SVP, Manuf & Sup Chn) sold a total of 7,500 shares of the company’s common stock. The trade occurred on Aug 26 and was made at $39.06 per share for $0.29 million. Following the transaction, the insider now directly holds 38171.0 shares of the BSX stock.

Still, SEC filings show that on Aug 26, Carruthers Wendy (SVP, Human Resources) disposed off 10,200 shares at an average price of $39.16 for $0.4 million. The insider now directly holds 178,973 shares of Boston Scientific Corporation (BSX).

Boston Scientific Corporation (BSX): Who are the competitors?

The company’s main competitors (and peers) include AngioDynamics Inc. (ANGO) that is trading -49.02% down over the past 12 months. Medtronic plc (MDT) is -0.39% down on the 1-year trading charts.