Boston Scientific Co. (NYSE:BSX) Short Interest Up 11.2% in November

Boston Scientific Co. (NYSE:BSX) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 12,250,000 shares, an increase of 11.2% from the November 15th total of 11,020,000 shares. Based on an average daily volume of 5,820,000 shares, the short-interest ratio is presently 2.1 days.

Analysts Set New Price Targets

BSX has been the subject of a number of research reports. Truist Financial lifted their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. TD Cowen boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Barclays increased their price objective on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Bank of America lifted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.52.

Insiders Place Their Bets

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 9.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 328,157 shares of company stock worth $27,957,676. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Large investors have recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new position in shares of Boston Scientific in the 3rd quarter valued at $28,000. Dunhill Financial LLC raised its position in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares in the last quarter. Andra AP fonden acquired a new position in Boston Scientific in the second quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Boston Scientific during the third quarter worth about $30,000. Finally, Capital Performance Advisors LLP acquired a new stake in Boston Scientific during the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.4 %

Shares of Boston Scientific stock opened at $90.46 on Tuesday. Boston Scientific has a 1 year low of $54.95 and a 1 year high of $91.93. The company’s fifty day simple moving average is $88.11 and its 200-day simple moving average is $81.97. The company has a market cap of $133.32 billion, a price-to-earnings ratio of 74.76, a PEG ratio of 2.67 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly 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. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. As a group, sell-side analysts expect that Boston Scientific will post 2.46 EPS for the current 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.