Thursday, February 25, 2021

why Boston Scientific Corporation [BSX] is a Good Choice for Investors After New Price Target of $43.12

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Boston Scientific Corporation [NYSE: BSX] traded at a high on 02/05/21, posting a 0.52 gain after which it closed the day’ session at $38.96. The company report on February 3, 2021 that Boston Scientific Announces Results For Fourth Quarter And Full Year 2020.

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Boston Scientific Corporation (NYSE: BSX) generated net sales of $2.708 billion during the fourth quarter of 2020. This represents a decline of (6.8) percent on a reported basis, (8.3) percent on an operational1 basis and (8.0) percent on an organic2 basis, all compared to the prior year period. Included within organic results is a negative 370 basis point impact associated with the conversion of U.S. WATCHMAN™ customers to a consignment inventory model and transition to the next-generation WATCHMAN FLX™ Left Atrial Appendage Closure (LAAC) Device. The company reported GAAP net income available to common stockholders of $138 million or $0.10 per share (EPS), compared to GAAP net income of $3.996 billion or $2.83 per share a year ago and achieved adjusted EPS of $0.23 for the period, compared to $0.46 a year ago. In the fourth quarter of 2019, reported GAAP net income included a net income tax benefit of $4.102 billion or $2.90 per share related to an intra-entity asset transfer of intellectual property.


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For the full year 2020, the company generated net sales of $9.913 billion. This represents a decline of (7.7) percent on a reported basis, (7.8) percent on an operational1 basis and (11.3) percent on an organic2 basis, all compared to the prior year period. Included within organic results is a negative 170 basis point impact associated with the WATCHMAN™ conversion. The company reported a GAAP net loss available to common stockholders of $(173) million or $(0.12) per share, compared to GAAP net income of $4.700 billion or $3.33 per share a year ago, and delivered full year adjusted EPS of $0.96, compared to $1.58 a year ago. Full year 2019 GAAP EPS included a net income tax benefit of $2.91 per share related to the intra-entity asset transfer of intellectual property discussed above.

The results of the trading session contributed to over 19199959 shares changing hands. Over the past one week, the price volatility of Boston Scientific Corporation stands at 3.03% while the volatility over the past one month is 2.50%.

The market cap for BSX stock reached $55.50 billion, with 1.43 billion shares outstanding and 1.43 billion shares in the current float. Compared to the average trading volume of 13.36M shares, BSX reached a trading volume of 19199959 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Boston Scientific Corporation [BSX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BSX shares is $43.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BSX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for Boston Scientific Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 17, 2020. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Peer Perform. The new note on the price target was released on September 11, 2020, representing the official price target for Boston Scientific Corporation stock. Previously, the target price had yet another raise to $40, while SVB Leerink analysts kept a Mkt Perform rating on BSX stock. On April 01, 2020, analysts decreased their price target for BSX shares from 46 to 38.

The Average True Range (ATR) for Boston Scientific Corporation is set at 0.95, with the Price to Sales ratio for BSX stock in the period of the last 12 months amounting to 5.60. The Price to Book ratio for the last quarter was 3.58, with the Price to Cash per share for the same quarter was set at 1.42. Price to Free Cash Flow for BSX in the course of the last twelve months was 60.86 with Quick ratio for the last quarter at 1.40.

How has BSX stock performed recently?

Boston Scientific Corporation [BSX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.93. With this latest performance, BSX shares gained by 5.98% in over the last four-week period, additionally plugging by 2.82% over the last 6 months – not to mention a drop of -9.42% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BSX stock in for the last two-week period is set at 67.18, with the RSI for the last a single of trading hit 72.14, and the three-weeks RSI is set at 63.33 for Boston Scientific Corporation [BSX]. The present Moving Average for the last 50 days of trading for this stock 35.45, while it was recorded at 37.55 for the last single week of trading, and 37.01 for the last 200 days.

Boston Scientific Corporation [BSX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Boston Scientific Corporation [BSX] shares currently have an operating margin of +6.90 and a Gross Margin at +65.05. Boston Scientific Corporation’s Net Margin is presently recorded at -1.41.

Boston Scientific Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.90.

Earnings analysis for Boston Scientific Corporation [BSX]

With the latest financial reports released by the company, Boston Scientific Corporation posted 0.28/share EPS, while the average EPS was predicted by analysts to be reported at 0.31/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -9.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BSX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Boston Scientific Corporation go to 6.55%.

Insider trade positions for Boston Scientific Corporation [BSX]

There are presently around $50,714 million, or 95.20% of BSX stock, in the hands of institutional investors. The top three institutional holders of BSX stocks are: BLACKROCK INC. with ownership of 133,511,038, which is approximately 3.614% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 112,005,986 shares of the stock with an approximate value of $4.36 billion in BSX stocks shares; and STATE STREET CORP, currently with $2.49 billion in BSX stock with ownership of nearly -1.229% of the company’s market capitalization.

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Positions in Boston Scientific Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 397 institutional holders increased their position in Boston Scientific Corporation [NYSE:BSX] by around 90,775,272 shares. Additionally, 401 investors decreased positions by around 84,424,445 shares, while 113 investors held positions by with 1,126,483,448 shares. The mentioned changes placed institutional holdings at 1,301,683,165 shares, according to the latest SEC report filing. BSX stock had 82 new institutional investments in for a total of 17,468,243 shares, while 86 institutional investors sold positions of 6,786,647 shares during the same period.

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