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

Boston Scientific Co. (NYSE:BSX) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 12,200,000 shares, an increase of 10.7% from the August 31st total of 11,020,000 shares. Based on an average daily trading volume, of 5,530,000 shares, the days-to-cover ratio is currently 2.2 days.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BSX. Eagle Bay Advisors LLC lifted its position in shares of Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares in the last quarter. First Foundation Advisors acquired a new stake in Boston Scientific during the 1st quarter valued at $25,000. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific in the second quarter valued at $26,000. Andra AP fonden acquired a new stake in shares of Boston Scientific in the second quarter worth $29,000. Finally, RiverPark Advisors LLC purchased a new position in shares of Boston Scientific during the first quarter valued at $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BSX has been the subject of several recent research reports. Raymond James boosted 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 note on Wednesday, September 4th. Evercore ISI increased their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. BTIG Research increased their price objective on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price target on shares of Boston Scientific in a research note on Thursday, July 25th. 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.10.

Boston Scientific Price Performance

Shares of BSX traded up $0.34 during mid-day trading on Tuesday, hitting $84.14. The company’s stock had a trading volume of 4,354,164 shares, compared to its average volume of 6,002,487. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $84.89. The stock has a market capitalization of $123.44 billion, a price-to-earnings ratio of 70.71, a PEG ratio of 2.78 and a beta of 0.79. The firm has a 50-day moving average price of $79.55 and a 200 day moving average price of $75.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. On average, research analysts predict that Boston Scientific will post 2.4 EPS for the current fiscal year.

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.