The time has not yet come to remove your chips from the table: Boston Scientific Corporation (BSX)

Boston Scientific Corporation (NYSE: BSX) stock jumped 0.83% on Wednesday to $51.93 against a previous-day closing price of $51.50. With 10.57 million shares changed hands, the volume of the stock remained heavier than its average volume of 9.14 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $52.31 whereas the lowest price it dropped to was $51.23. The 52-week range on BSX shows that it touched its highest point at $54.17 and its lowest point at $34.98 during that stretch. It currently has a 1-year price target of $58.22. Beta for the stock currently stands at 0.79.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BSX was down-trending over the past week, with a drop of -2.77%, but this was up by 1.60% over a month. Three-month performance surged to 10.07% while six-month performance rose 20.94%. The stock gained 30.18% in the past year, while it has gained 12.23% so far this year. A look at the trailing 12-month EPS for BSX yields 0.59 with Next year EPS estimates of 2.22. For the next quarter, that number is 0.49. This implies an EPS growth rate of -35.10% for this year and 13.41% for next year. EPS is expected to grow by 12.17% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -8.40%.

Float and Shares Shorts:

At present, 1.44 billion BSX shares are outstanding with a float of 1.43 billion shares on hand for trading. On Apr 27, 2023, short shares totaled 17.97 million, which was 1.25% higher than short shares on Mar 30, 2023. In addition to Mr. Michael F. Mahoney as the firm’s Chairman, Pres & CEO, Mr. Daniel J. Brennan serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 93.96% of BSX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.17% of BSX, in contrast to 39.22% held by mutual funds. Shares owned by individuals account for 1.42%. As the largest shareholder in BSX with 7.97% of the stake, The Vanguard Group, Inc. holds 114,310,537 shares worth 114,310,537. A second-largest stockholder of BSX, Fidelity Management & Research Co, holds 97,216,978 shares, controlling over 6.78% of the firm’s shares. Massachusetts Financial Services is the third largest shareholder in BSX, holding 79,533,631 shares or 5.54% stake. With a 3.11% stake in BSX, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 44,571,821 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.34% of BSX stock, is the second-largest Mutual Fund holder. It holds 33,619,611 shares valued at 1.75 billion. Vanguard PRIMECAP Fund holds 1.85% of the stake in BSX, owning 26,465,244 shares worth 1.38 billion.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, BSX reported revenue of $3.24B and operating income of $518.00M. The EBITDA in the recently reported quarter was $709.00M and diluted EPS was $0.17.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BSX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BSX analysts setting a high price target of $63.00 and a low target of $55.00, the average target price over the next 12 months is $58.44. Based on these targets, BSX could surge 21.32% to reach the target high and rise by 5.91% to reach the target low. Reaching the average price target will result in a growth of 12.54% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded BSX stock several times over the past three months with 13 Buys and 13 Sells. In these transactions, 105,459 shares were bought while 245,711 shares were sold. The number of buy transactions has increased to 89 while that of sell transactions has risen to 109 over the past year. The total number of shares bought during that period was 1,053,807 while 1,576,980 shares were sold.

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