Boston Scientific Corporation (NYSE:BSX) shares, rose in value on Friday, May 26, with the stock price down by -0.29% to the previous day’s close as strong demand from buyers drove the stock to $51.39.
Actively observing the price movement in the recent trading, the stock is buoying the session at $51.54, falling within a range of $51.335 and $51.96. The value of beta (5-year monthly) is 0.80 whereas the PE ratio is 87.95 over 12-month period. Referring to stock’s 52-week performance, its high was $54.17, and the low was $34.98. On the whole, BSX has fluctuated by -1.23% over the past month.
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With the market capitalization of Boston Scientific Corporation currently standing at about $73.82 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jul 25, 2023 – Jul 31, 2023.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BSX’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
31 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 5 analyst(s), 22 recommend it as a Buy and 4 called the BSX stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Buy.
The stock’s technical analysis shows that the PEG ratio is about 7.23, with the price of BSX currently trading nearly -2.74% and 0.29% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.46, while the 7-day volatility ratio is showing 1.96% which for the 30-day chart, stands at 1.86%. Furthermore, Boston Scientific Corporation (BSX)’s beta value is 0.79, and its average true range (ATR) is 0.95. The company’s stock has been forecasted to trade at an average price of $58.44 over the course of the next 52 weeks, with a low of $55.00 and a high of $63.00. Based on these price targets, the low is -7.02% off current price, whereas the price has to move -22.59% to reach the yearly target high. Additionally, analysts’ median price of $58.00 is likely to be welcomed by investors because it represents a decrease of -12.86% from the current levels.
A comparison of Boston Scientific Corporation (BSX) with its peers suggests the former has fared considerably weaker in the market. BSX showed an intraday change of -0.29% in today’s session so far, and over the past year, it grew by 28.19%%. In comparison, Abbott Laboratories (ABT) has moved higher at 1.05% today and is down -8.82% over the past 12 months. On the other hand, the price of Medtronic plc (MDT) has fallen -2.40% today. The stock, however, is off -22.75% from where it was a year ago. Additionally, there is a gain of 0.97% for Stryker Corporation (SYK) in recent trading while the stock has seen an overall depriciation of 17.03%% over the past year. The PE ratio stands at 87.95 for Boston Scientific Corporation, compared to 30.96 for Abbott Laboratories, and 27.46 for Medtronic plc. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 1.12%. Meanwhile, the Dow Jones Industrial Improved by 1.02%.
Data on historical trading for Boston Scientific Corporation (NYSE:BSX) indicates that the trading volumes over the past 10 days have averaged 8.78 million and over the past 3 months, they’ve averaged 9.17 million. According to company’s latest data on outstanding shares, there are 1.44 billion shares outstanding.
Nearly 0.20% of Boston Scientific Corporation’s shares belong to company insiders and institutional investors own 94.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 17.97 million shares as on Apr 27, 2023, resulting in a short ratio of 1.72. According to the data, the short interest in Boston Scientific Corporation (BSX) stood at 1.25% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 15.16 million. The stock has risen by 11.07% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BSX stock heading into the next quarter.
