Boston Scientific Co. (NYSE:BSX) Short Interest Update

Boston Scientific Co. (NYSE:BSX - Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 12,430,000 shares, an increase of 8.3% from the March 15th total of 11,480,000 shares. Based on an average daily volume of 6,410,000 shares, the days-to-cover ratio is currently 1.9 days.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares of the company's stock, valued at $3,779,820.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Edward J. Ludwig sold 7,000 shares of the business's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock valued at $3,418,529 over the last 90 days. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BSX. International Assets Investment Management LLC bought a new position in shares of Boston Scientific during the 1st quarter valued at approximately $54,000. Acadian Asset Management LLC purchased a new stake in shares of Boston Scientific during the 1st quarter valued at approximately $35,000. Prudential PLC purchased a new stake in shares of Boston Scientific during the 1st quarter valued at approximately $1,076,000. Cetera Investment Advisers lifted its stake in shares of Boston Scientific by 24.0% during the 1st quarter. Cetera Investment Advisers now owns 28,793 shares of the medical equipment provider's stock valued at $1,275,000 after buying an additional 5,581 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Boston Scientific during the 1st quarter valued at approximately $230,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Down 0.2 %

BSX stock traded down $0.16 during trading on Wednesday, reaching $67.96. The stock had a trading volume of 6,177,583 shares, compared to its average volume of 6,375,059. Boston Scientific has a one year low of $48.35 and a one year high of $69.21. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The company's 50 day moving average is $67.17 and its two-hundred day moving average is $59.68. The company has a market capitalization of $99.70 billion, a price-to-earnings ratio of 63.51, a P/E/G ratio of 2.36 and a beta of 0.78.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the firm posted $0.45 EPS. Equities research analysts forecast that Boston Scientific will post 2.25 EPS for the current year.

Wall Street Analysts Forecast Growth

BSX has been the topic of several research reports. Citigroup upped their price objective on shares of Boston Scientific from $71.00 to $79.00 and gave the company a "buy" rating in a report on Wednesday, April 3rd. Needham & Company LLC upped their price objective on shares of Boston Scientific from $60.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, February 1st. Argus upped their price objective on shares of Boston Scientific from $69.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, April 3rd. Oppenheimer upped their price objective on shares of Boston Scientific from $58.00 to $68.00 and gave the company a "market perform" rating in a report on Thursday, February 1st. Finally, TD Cowen upped their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the company an "outperform" rating in a report on Thursday, March 7th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific currently has an average rating of "Moderate Buy" and an average price target of $68.50.

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.