Boston Scientific Co. (NYSE:BSX) Short Interest Up 10.7% in September

Boston Scientific Co. (NYSE:BSX) saw a large growth in short interest during the month of 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 trading volume, of 5,530,000 shares, the days-to-cover ratio is currently 2.2 days.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds have recently bought and sold shares of BSX. Mattson Financial Services LLC bought a new position in shares of Boston Scientific during the 2nd quarter valued at approximately $2,339,000. Newbridge Financial Services Group Inc. grew its stake in shares of Boston Scientific by 2,100.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 9,132 shares of the medical equipment provider’s stock valued at $703,000 after acquiring an additional 8,717 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Boston Scientific during the 2nd quarter valued at approximately $5,349,000. Brown Financial Advisors bought a new position in shares of Boston Scientific during the 2nd quarter valued at approximately $1,423,000. Finally, RiverFront Investment Group LLC bought a new position in shares of Boston Scientific during the 2nd quarter valued at approximately $222,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.4 %

BSX stock traded up $0.34 on Tuesday, reaching $84.14. The company’s stock had a trading volume of 4,354,164 shares, compared to its average volume of 6,002,487. The business has a fifty day simple moving average of $79.44 and a two-hundred day simple moving average of $75.43. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $84.89. The firm has a market cap of $123.44 billion, a PE ratio of 70.16, a PEG ratio of 2.78 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results 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. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, research analysts forecast that Boston Scientific will post 2.4 EPS for the current year.

Wall Street Analyst Weigh In

BSX has been the topic of a number of research reports. Needham & Company LLC boosted their price objective on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price target on shares of Boston Scientific in a research report on Thursday, July 25th. Canaccord Genuity Group upped their price target on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, TD Cowen upped their price target on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.