Boston Scientific Co. (NYSE:BSX) Sees Large Increase in Short Interest

Boston Scientific Co. (NYSE:BSX) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 12,250,000 shares, an increase of 11.2% from the November 15th total of 11,020,000 shares. Based on an average trading volume of 5,820,000 shares, the days-to-cover ratio is currently 2.1 days.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction on Monday, October 7th. The stock was 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. The trade was a 9.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 328,157 shares of company stock valued at $27,957,676. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after acquiring an additional 173,034 shares in the last quarter. HWG Holdings LP bought a new stake in shares of Boston Scientific in the second quarter valued at about $482,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Boston Scientific by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock valued at $289,675,000 after purchasing an additional 30,636 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Boston Scientific by 153.5% during the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock worth $16,541,000 after buying an additional 119,525 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Boston Scientific in the 3rd quarter valued at approximately $567,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

BSX stock opened at $90.46 on Tuesday. Boston Scientific has a 1-year low of $54.95 and a 1-year high of $91.93. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The firm has a market cap of $133.32 billion, a PE ratio of 74.76, a P/E/G ratio of 2.67 and a beta of 0.80. The business’s 50-day moving average price is $88.11 and its two-hundred day moving average price is $81.97.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the business posted $0.50 EPS. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, research analysts forecast that Boston Scientific will post 2.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on BSX shares. Mizuho raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Royal Bank of Canada lifted their price objective on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Raymond James upped their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.52.

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.