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

Boston Scientific Co. (NYSE:BSX) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 12,430,000 shares, a growth of 8.3% from the March 15th total of 11,480,000 shares. Based on an average daily volume of 6,410,000 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Ratings Changes

Several research analysts have commented on the stock. Evercore ISI lifted their price target on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Citigroup lifted their price target on shares of Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. BTIG Research reissued a “buy” rating and set a $64.00 price target on shares of Boston Scientific in a research note on Friday, December 29th. Truist Financial lifted their price target on shares of Boston Scientific from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. Finally, Needham & Company LLC lifted their price target on shares of Boston Scientific from $60.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.50.

Boston Scientific Trading Up 1.0 %

NYSE:BSX traded up $0.68 during trading hours on Wednesday, hitting $68.12. The company had a trading volume of 6,619,233 shares, compared to its average volume of 4,789,356. The company has a market capitalization of $99.94 billion, a PE ratio of 63.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The stock has a 50-day moving average price of $67.11 and a 200 day moving average price of $59.63. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $69.21. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter last year, the firm posted $0.45 earnings per share. On average, equities research analysts predict that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now directly owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock worth $3,418,529 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BSW Wealth Partners raised its position in shares of Boston Scientific by 2.3% in the 4th quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock worth $428,000 after purchasing an additional 165 shares during the last quarter. Allstate Corp raised its position in Boston Scientific by 2.9% in the 4th quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock worth $343,000 after buying an additional 165 shares during the last quarter. First Affirmative Financial Network raised its position in Boston Scientific by 4.3% in the 1st quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock worth $276,000 after buying an additional 166 shares during the last quarter. Childress Capital Advisors LLC raised its position in Boston Scientific by 2.6% in the 4th quarter. Childress Capital Advisors LLC now owns 6,673 shares of the medical equipment provider’s stock worth $386,000 after buying an additional 169 shares during the last quarter. Finally, Valley National Advisers Inc. raised its position in Boston Scientific by 2.3% in the 4th quarter. Valley National Advisers Inc. now owns 7,526 shares of the medical equipment provider’s stock worth $435,000 after buying an additional 170 shares during the last quarter. Hedge funds and other 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.