Boston Scientific Co. (NYSE:BSX) Sees Large Decrease in Short Interest

Boston Scientific Co. (NYSE:BSX – Get Rating) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 11,970,000 shares, a decline of 23.6% from the March 31st total of 15,670,000 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 9,060,000 shares, the days-to-cover ratio is presently 1.3 days.

Several research firms recently issued reports on BSX. SVB Leerink reduced their price target on Boston Scientific from $48.00 to $45.00 and set a “market perform” rating for the company in a research note on Thursday, February 3rd. TheStreet downgraded Boston Scientific from a “b” rating to a “c+” rating in a research note on Tuesday, March 8th. Morgan Stanley dropped their price objective on Boston Scientific from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, February 3rd. Truist Financial started coverage on Boston Scientific in a report on Wednesday, April 13th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and a consensus target price of $49.17.

Boston Scientific stock opened at $42.11 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.48. Boston Scientific has a 52 week low of $37.96 and a 52 week high of $47.49. The stock has a market capitalization of $60.08 billion, a P/E ratio of 79.45, a price-to-earnings-growth ratio of 2.36 and a beta of 0.83. The stock has a fifty day moving average of $43.81 and a 200-day moving average of $42.92.

Boston Scientific (NYSE:BSX – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The medical equipment provider reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. Boston Scientific had a return on equity of 14.60% and a net margin of 6.65%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the firm earned $0.37 EPS. Boston Scientific’s revenue was up 10.0% on a year-over-year basis. On average, research analysts forecast that Boston Scientific will post 1.76 earnings per share for the current year.

In related news, SVP John Bradley Sorenson sold 13,167 shares of the business’s stock in a transaction on Monday, February 7th. The stock was sold at an average price of $43.20, for a total value of $568,814.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David A. Pierce sold 1,884 shares of the business’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $42.55, for a total value of $80,164.20. The disclosure for this sale can be found here. Insiders have sold a total of 121,743 shares of company stock valued at $5,294,188 over the last quarter. 0.71% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Siemens Fonds Invest GmbH increased its holdings in Boston Scientific by 1.2% in the 4th quarter. Siemens Fonds Invest GmbH now owns 19,719 shares of the medical equipment provider’s stock worth $848,000 after purchasing an additional 235 shares in the last quarter. Private Capital Group LLC increased its holdings in Boston Scientific by 8.4% in the 4th quarter. Private Capital Group LLC now owns 3,184 shares of the medical equipment provider’s stock worth $135,000 after purchasing an additional 248 shares in the last quarter. Midwest Professional Planners LTD. increased its holdings in Boston Scientific by 0.9% in the 3rd quarter. Midwest Professional Planners LTD. now owns 28,455 shares of the medical equipment provider’s stock worth $1,235,000 after purchasing an additional 250 shares in the last quarter. Bank of Marin increased its holdings in Boston Scientific by 1.3% in the 3rd quarter. Bank of Marin now owns 19,663 shares of the medical equipment provider’s stock worth $853,000 after purchasing an additional 250 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its holdings in Boston Scientific by 3.4% in the 3rd quarter. Beacon Pointe Advisors LLC now owns 7,881 shares of the medical equipment provider’s stock worth $342,000 after purchasing an additional 258 shares in the last quarter. 89.75% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Company Profile (Get Rating)

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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