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

Boston Scientific Co. (NYSE:BSX) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 14,520,000 shares, an increase of 17.8% from the December 15th total of 12,330,000 shares. Based on an average trading volume of 5,760,000 shares, the days-to-cover ratio is currently 2.5 days.

Boston Scientific Price Performance

NYSE BSX traded up $0.56 on Friday, hitting $98.73. The company had a trading volume of 6,946,303 shares, compared to its average volume of 4,333,857. The company has a market capitalization of $145.52 billion, a PE ratio of 81.60, a PEG ratio of 2.48 and a beta of 0.80. The company’s fifty day moving average price is $91.00 and its 200-day moving average price is $84.54. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific has a 12-month low of $59.85 and a 12-month high of $99.14.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company 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 company posted $0.50 EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, analysts predict that Boston Scientific will post 2.46 earnings per share for the current year.

Insider Activity

In related news, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Whalen Wealth Management Inc. acquired a new position in shares of Boston Scientific during the 4th quarter valued at about $684,000. Beacon Investment Advisory Services Inc. lifted its position in Boston Scientific by 31.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after buying an additional 4,702 shares during the last quarter. MinichMacGregor Wealth Management LLC lifted its position in Boston Scientific by 2.3% in the fourth quarter. MinichMacGregor Wealth Management LLC now owns 5,689 shares of the medical equipment provider’s stock valued at $508,000 after buying an additional 130 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in Boston Scientific by 8.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 5,809 shares of the medical equipment provider’s stock valued at $519,000 after buying an additional 449 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Boston Scientific by 4.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 207,162 shares of the medical equipment provider’s stock valued at $18,504,000 after buying an additional 8,522 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Bank of America raised their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Mizuho raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Truist Financial raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.26.

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.