Boston Scientific Co. (NYSE:BSX) Sees Significant Growth in Short Interest

Boston Scientific Co. (NYSE:BSX) was the target of a large increase in short interest in May. As of May 31st, there was short interest totalling 13,380,000 shares, an increase of 8.5% from the May 15th total of 12,330,000 shares. Based on an average trading volume of 6,110,000 shares, the days-to-cover ratio is presently 2.2 days.

Wall Street Analyst Weigh In

BSX has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price target on the stock. TD Cowen increased their price target on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Argus raised their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Mizuho increased their target price on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $76.70.

Boston Scientific Trading Up 0.2 %

Shares of BSX stock opened at $76.34 on Wednesday. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $77.64. The company has a market cap of $112.00 billion, a PE ratio of 64.15, a price-to-earnings-growth ratio of 2.64 and a beta of 0.81. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $73.39 and its two-hundred day moving average is $66.45.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. Equities analysts predict that Boston Scientific will post 2.32 EPS for the current year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,620,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Charles J. Dockendorff sold 3,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Bradley Sorenson sold 17,587 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,620,617. The disclosure for this sale can be found here. Insiders sold a total of 81,627 shares of company stock valued at $5,937,353 in the last three months. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Several large investors have recently made changes to their positions in the business. Cypress Asset Management Inc. TX bought a new position in Boston Scientific during the first quarter worth $205,000. Railway Pension Investments Ltd increased its holdings in shares of Boston Scientific by 73.0% during the 1st quarter. Railway Pension Investments Ltd now owns 367,600 shares of the medical equipment provider’s stock worth $25,177,000 after purchasing an additional 155,100 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Boston Scientific by 9.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,696,861 shares of the medical equipment provider’s stock valued at $115,879,000 after buying an additional 145,754 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of Boston Scientific by 11.8% in the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after buying an additional 21,252 shares during the period. Finally, Cetera Advisors LLC grew its position in Boston Scientific by 126.7% during the first quarter. Cetera Advisors LLC now owns 36,577 shares of the medical equipment provider’s stock worth $2,505,000 after buying an additional 20,439 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.