Needham lifts Boston Scientific Corporation [BSX] price estimate. Who else is bullish?

Boston Scientific Corporation [NYSE: BSX] closed the trading session at $45.88 on 08/02/21. The day’s price range saw the stock hit a low of $45.34, while the highest price level was $46.285. The company report on August 3, 2021 that CMS Grants Additional Reimbursement For EXALT™ Model D Single-Use Duodenoscope.

New Technology Add-on Payment can increase patient access to ERCP procedures with reduced infection risks.

Boston Scientific (NYSE: BSX) announced that the U.S. Centers for Medicare & Medicaid Services (CMS) granted a New Technology Add-on Payment (NTAP) for single-use duodenoscopes, applicable to the EXALT™ Model D Single-Use Duodenoscope, as part of its Fiscal Year 2022 Hospital Inpatient Prospective Payment System. NTAP was created to facilitate patient access for qualifying new medical technologies that substantially improve the diagnosis or treatment of Medicare beneficiaries. Beginning October 1, 2021, CMS will provide hospitals with additional device reimbursement when the EXALT Model D Single-Use Duodenoscope is used for eligible cases in the hospital inpatient setting.

The stocks have a year to date performance of 27.62 percent and weekly performance of 4.34 percent. The stock has been moved at 27.62 percent over the last six months. The stock has performed 5.81 percent around the most recent 30 days and changed 5.16 percent over the most recent 3-months.

If compared to the average trading volume of 6.47M shares, BSX reached to a volume of 10017505 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $48.97 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 1.80. 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.

Needham have made an estimate for Boston Scientific Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 26, 2021. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on May 25, 2021, representing the official price target for Boston Scientific Corporation stock. Previously, the target price had yet another raise to $52, while Atlantic Equities analysts kept a Overweight rating on BSX stock.

The Average True Range (ATR) for Boston Scientific Corporation is set at 0.86, with the Price to Sales ratio for BSX stock in the period of the last 12 months amounting to 5.79. The Price to Book ratio for the last quarter was 4.14, with the Price to Cash per share for the same quarter was set at 1.43. Price to Free Cash Flow for BSX in the course of the last twelve months was 57.24 with Quick ratio for the last quarter at 1.40.

BSX stock trade performance evaluation

Boston Scientific Corporation [BSX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.34. With this latest performance, BSX shares gained by 5.81% in over the last four-week period, additionally plugging by 27.62% over the last 6 months – not to mention a rise of 18.95% 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 67.53, with the RSI for the last a single of trading hit 72.92, and the three-weeks RSI is set at 64.28 for Boston Scientific Corporation [BSX]. The present Moving Average for the last 50 days of trading for this stock 43.19, while it was recorded at 45.55 for the last single week of trading, and 39.14 for the last 200 days.

Boston Scientific Corporation [BSX]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Boston Scientific Corporation [BSX] shares currently have an operating margin of +6.06 and a Gross Margin at +56.25. Boston Scientific Corporation’s Net Margin is presently recorded at -0.83.

Return on Total Capital for BSX is now 2.44, given the latest momentum, and Return on Invested Capital for the company is -0.34. Return on Equity for this stock declined to -0.56, with Return on Assets sitting at -0.27. When it comes to the capital structure of this company, Boston Scientific Corporation [BSX] has a Total Debt to Total Equity ratio set at 62.73. Additionally, BSX Total Debt to Total Capital is recorded at 38.55, with Total Debt to Total Assets ending up at 31.24. Long-Term Debt to Equity for the company is recorded at 62.18, with the Long-Term Debt to Total Capital now at 38.21.

Reflecting on the efficiency of the workforce at the company, Boston Scientific Corporation [BSX] managed to generate an average of -$2,158 per employee. Receivables Turnover for the company is 5.72 with a Total Asset Turnover recorded at a value of 0.32.Boston Scientific Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.80.

Earnings per share (EPS) analysis for Boston Scientific Corporation [BSX] stock

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 21.40%.

Boston Scientific Corporation [BSX]: Insider Ownership positions

There are presently around $59,067 million, or 93.70% of BSX stock, in the hands of institutional investors. The top three institutional holders of BSX stocks are: BLACKROCK INC. with ownership of 130,736,889, which is approximately -2.078% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 109,829,688 shares of the stock with an approximate value of $5.04 billion in BSX stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $4.16 billion in BSX stock with ownership of nearly 17.284% 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 July and at the time of the July reporting period, where 378 institutional holders increased their position in Boston Scientific Corporation [NYSE:BSX] by around 132,345,251 shares. Additionally, 402 investors decreased positions by around 110,364,597 shares, while 142 investors held positions by with 1,044,711,409 shares. The mentioned changes placed institutional holdings at 1,287,421,257 shares, according to the latest SEC report filing. BSX stock had 81 new institutional investments in for a total of 19,823,670 shares, while 104 institutional investors sold positions of 19,982,193 shares during the same period.

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