Boston Scientific Corp. (NYSE: BSX) is 17.52% higher on its value in year-to-date trading and has touched a low of $48.10 and a high of $68.07 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BSX stock was last observed hovering at around $67.29 in the last trading session, with the day’s gains setting it 0.65%.
Currently trading at $67.94, the stock is 1.27% and 4.57% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.31 million and changing 0.97% at the moment leaves the stock 20.95% off its SMA200. BSX registered 40.90% gain for a year compared to 6-month gain of 26.28%. The firm has a 50-day simple moving average (SMA 50) of $7.62 and a 200-day simple moving average (SMA200) of $31.48.
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The stock witnessed a 1.90% loss in the last 1 month and extending the period to 3 months gives it a 21.54%, and is 0.22% 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 1.07% over the week and 1.41% over the month.
Boston Scientific Corp. (BSX) has around 48000 employees, a market worth around $99.67B and $14.24B in sales. Current P/E ratio is 63.48 and Fwd P/E is 26.61. Profit margin for the company is 11.03%. Distance from 52-week low is 41.25% and -0.18% from its 52-week high. The company has generated returns on investments over the last 12 months (5.56%).
Boston Scientific Corp. quarterly earnings per share for the current quarter are estimated at $0.51 with sales reaching $3.68B over the same period.The EPS is expected to grow by 10.02% this year, but quarterly earnings will post 9.40% year-over-year. Quarterly sales are estimated to grow 8.70% in year-over-year returns.
Boston Scientific Corp. (BSX) Top Institutional Holders
1,669 institutions hold shares in Boston Scientific Corp. (BSX), with institutional investors hold 93.87% of the company’s shares. The shares outstanding are 1.47B, and float is at 1.46B with Short Float at 0.65%. Institutions hold 93.69% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 137.49 million shares valued at $7.44 billion. The investor’s holdings represent 9.39% of the BSX Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 122.24 million shares valued at $6.61 billion to account for 8.35% of the shares outstanding. The other top investors are FMR, LLC which holds 117.88 million shares representing 8.05% and valued at over $6.38 billion, while Massachusetts Financial Services Co. holds 4.72% of the shares totaling 69.14 million with a market value of $3.74 billion.
Boston Scientific Corp. (BSX) Insider Activity
The most recent transaction is an insider sale by Mirviss Jeffrey B.,the company’sEVP&Pres, Periph Intervent. SEC filings show that Mirviss Jeffrey B. sold 14,506 shares of the company’s common stock on Mar 18 ’24 at a price of $66.45 per share for a total of $0.96 million. Following the sale, the insider now owns 58098.0 shares.
Boston Scientific Corp. disclosed in a document filed with the SEC on Mar 01 ’24 that Carruthers Wendy (EVP, Human Resources) sold a total of 6,983 shares of the company’s common stock. The trade occurred on Mar 01 ’24 and was made at $66.35 per share for $0.46 million. Following the transaction, the insider now directly holds 53788.0 shares of the BSX stock.
Still, SEC filings show that on Feb 26 ’24, Butcher Arthur C (EVP& Grp Pres, MedSurg & APAC) disposed off 9,335 shares at an average price of $67.07 for $0.63 million. The insider now directly holds 28,937 shares of Boston Scientific Corp. (BSX).
