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

Boston Scientific Co. (NYSE:BSX) was the recipient of a large 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 days-to-cover ratio is currently 2.1 days.

Wall Street Analyst Weigh In

Several brokerages have commented on BSX. Royal Bank of Canada upped their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Bank of America increased their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Citigroup lifted their price objective on Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company increased their target price on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Barclays raised their target price on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $95.52.

Insider Activity

In related news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 9.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the transaction, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. 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. 0.50% of the stock is currently owned by insiders.

Institutional Trading of Boston Scientific

A number of hedge funds have recently bought and sold shares of BSX. OFI Invest Asset Management bought a new position in shares of Boston Scientific in the 2nd quarter worth approximately $36,000. Western Wealth Management LLC boosted its stake in shares of Boston Scientific by 5.3% during the 2nd quarter. Western Wealth Management LLC now owns 18,626 shares of the medical equipment provider’s stock worth $1,434,000 after acquiring an additional 941 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Boston Scientific by 8.7% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 83,953 shares of the medical equipment provider’s stock worth $6,465,000 after acquiring an additional 6,737 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Boston Scientific by 15.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 372,867 shares of the medical equipment provider’s stock valued at $28,714,000 after acquiring an additional 50,397 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Boston Scientific by 14.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 611,693 shares of the medical equipment provider’s stock worth $47,106,000 after purchasing an additional 77,677 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.4 %

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

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion for 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 business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. On average, sell-side analysts predict that Boston Scientific will post 2.46 EPS for the current year.

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.