Boston Scientific Short Interest Up 38.5% in August (BSX)
Shares of Boston Scientific (NYSE:BSX) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 38,636,682 shares, a growth of 38.5% from the July 31st total of 27,894,774 shares, Analyst Ratings Network reports. Approximately 2.9% of the company’s shares are short sold. Based on an average daily volume of 9,493,507 shares, the short-interest ratio is presently 4.1 days.
In other Boston Scientific news, Director Ernest Mario sold 10,000 shares of the stock on the open market in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $12.60, for a total transaction of $126,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Boston Scientific in a research note on Wednesday, August 13th. They now have a $13.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Boston Scientific in a research note on Thursday, August 7th. They now have a $14.50 price target on the stock, down previously from $16.00. Finally, analysts at Sterne Agee initiated coverage on shares of Boston Scientific in a research note on Tuesday, July 29th. They set a “neutral” rating and a $13.50 price target on the stock. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $13.99.
Shares of Boston Scientific (NYSE:BSX) opened at 12.24 on Friday. Boston Scientific has a 52-week low of $11.12 and a 52-week high of $14.08. The stock’s 50-day moving average is $12.63 and its 200-day moving average is $12.95. The company has a market cap of $16.227 billion and a P/E ratio of 68.73.
Boston Scientific (NYSE:BSX) last announced its earnings results on Thursday, July 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.01. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts predict that Boston Scientific will post $0.82 earnings per share for the current fiscal year.
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties.
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