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

Boston Scientific Co. (NYSE:BSX) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 12,200,000 shares, a growth of 10.7% from the August 31st total of 11,020,000 shares. Based on an average daily volume of 5,530,000 shares, the short-interest ratio is presently 2.2 days.

Boston Scientific Trading Up 0.4 %

Shares of Boston Scientific stock traded up $0.34 during trading hours on Tuesday, reaching $84.14. The stock had a trading volume of 4,354,164 shares, compared to its average volume of 6,002,487. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $84.89. The firm has a market capitalization of $123.44 billion, a price-to-earnings ratio of 70.71, a P/E/G ratio of 2.78 and a beta of 0.79. The firm has a 50 day simple moving average of $79.55 and a two-hundred day simple moving average of $75.56.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. Boston Scientific’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently modified their holdings of the stock. Eagle Bay Advisors LLC boosted its holdings in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares during the period. First Foundation Advisors acquired a new stake in Boston Scientific during the 1st quarter valued at $25,000. Triad Wealth Partners LLC acquired a new stake in Boston Scientific during the 2nd quarter valued at $26,000. Andra AP fonden purchased a new stake in Boston Scientific during the 2nd quarter worth $29,000. Finally, RiverPark Advisors LLC acquired a new position in Boston Scientific in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of a number of recent analyst reports. Raymond James raised their price objective 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. BTIG Research raised their target price on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 15th. Citigroup boosted their target price on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.10.

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.