Boston Scientific Corporation (NYSE:BSX) has been range bound between the range of $39.39 and $39.39 during the whole day. The stock finished Wednesday at $39.6. The -1.1% downtrend forced its market value to reach at $54.76B. The price went up as high as $39.39 before retreating. Trading activity significantly weakened as the volume at ready counter decreased to 6,120,131 shares versus 7,435,145 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 7,438,874 shares. The stock is now 53.25% above against its bear-market low of $25.84 on February 14, 2018. It has retreated -1.84% since it’s 52-week high of $40.33 reached in February. Now the market price is up 51.26% on the year and up 12.05% YTD.
BSX’s 50 day simple moving average (SMA 50) price is $36.31 and its 200-day simple moving average (SMA 200) price is $34.79. The company’s stock currently has a total float of 1.38B shares. Its weekly volatility is hovering around 2.07% and felt 2.06% volatility in price over a month. On the upside, the share price will test short term resistance at around $40.1. On a downside, the stock is likely to find some support, which begins at $39.25. The failure to get near-term support could push it to $38.89.
Separately, it has been reported that multiple insider activity took place at Boston Scientific Corporation (BSX). EVP & President, Rhythm Mgmt Fitzgerald Joseph Michael sold 44,236 shares for $266,360 in transaction occurred on 2019/02/12. After making this transaction, the EVP & President, Rhythm Mgmt owns a direct stake of 1,769,440 shares, worth $10,547,856, as per the last closing price. On 2019/02/01 Pierce David A, EVP,Pres MedSurg at BSX, dumped 5,000 shares at an average price of $38.15 per share. The selling total is valued at $958,360.
SVP & Pres, Neuromodulation, Nanavaty Maulik had divested 3,038 shares for $240,168 through a trade on 2019/01/15. Following this activity, the insider holds 107,727 shares worth $9,510,653 as of recent close. Wall Street’s most bullish Boston Scientific Corporation (NYSE:BSX) analysts are predicting the share price to blow past $48 per share during the next 12 months. The current median share price forecast by them is $44, suggesting that the stock could increase 11.11% in that time frame. The average price target of $43.8 calls for a nearly 10.61% increase in the stock price.
It had seen a new analyst call from UBS, which initiated the stock at Buy on November 28. Analysts at Barclays, started covering the stock on October 16 with a Overweight rating. Brokerage firm Morgan Stanley, looks cautious as they stick to prior recommendation of Overweight, in a call on October 02. However, they did change the target price from $38 to $48.
When looking at valuations, Boston Scientific Corporation (BSX) has a cheap P/E of 33.39x as compared to industry average of 195.33x. Moreover, it trades for 21.96 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 6.61x price/book and 5.57x price/sales. Compared to others, Boston Scientific Corporation is in a different league with regards to profitability, having net margins of 5.3%. To put some perspective around this, the industry’s average net margin is -2.22%. BSX’s ROE is 6.9%, which is also considerably worse than the industry’s ROE of 15.62%. It’s also not liquid in the near term, with a current ratio of 0.8. The stock has a debt/capital of 0.8.
Shares of Boston Scientific Corporation (BSX) have gained 6.1% since the company’s last earnings report. Over the past 12 fiscal quarters, Boston Scientific Corporation (NYSE:BSX) has topped consensus earnings estimates in 7 quarters (58%), missed earnings in 1 quarters (8%), whereas at 4 occasion EPS met analyst expectations. BSX last reported earnings on February 06, 2019 when it released Dec-18 results that exceeded expectations. The company raked in $0.39 per share, -91.99% change on the same period last year. That was better than consensus for $0.37. Revenue for the recent quarter stood at $2.56 billion, up 6% on last year and below the $2.56 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $2.53 billion to $2.55 billion, which should be compared with $2.47 billion generated last year. EPS is seen in a range of $0.33 to $0.37, against the $0.35 reported a year ago.