Short Interest in Boston Scientific Co. (NYSE:BSX) Increases By 11.2%

Boston Scientific Co. (NYSE:BSX) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 12,250,000 shares, a growth 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 currently 2.1 days.

Boston Scientific Stock Down 0.3 %

Shares of Boston Scientific stock opened at $90.11 on Friday. Boston Scientific has a 52-week low of $54.95 and a 52-week high of $91.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The business’s 50 day simple moving average is $87.98 and its 200 day simple moving average is $81.82. The firm has a market cap of $132.81 billion, a PE ratio of 74.47, a P/E/G ratio of 2.67 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. On average, analysts predict that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 328,157 shares of company stock valued at $27,957,676. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BSX shares. Bank of America upped their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Evercore ISI lifted their price target on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. TD Cowen boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays boosted their price target on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.43.

About Boston Scientific

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.