Boston Scientific Corporation [BSX] Revenue clocked in at $12.57 billion, up 10.95% YTD: What’s Next?

Boston Scientific Corporation [NYSE: BSX] price surged by 1.95 percent to reach at $0.9. The company report on December 11, 2022 that Boston Scientific Announces Strategic Investment to Acquire Majority Stake of Acotec Scientific Holdings Limited.

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Boston Scientific Corporation (NYSE: BSX) and Acotec Scientific Holdings Limited (“Acotec” and 6669.HK) announced today that Boston Scientific will make a partial offer to acquire a majority stake, up to a maximum of 65%, of shares of Acotec, a Chinese medical technology company that offers solutions designed for a variety of interventional procedures. The proposed price is HK$20 per share, which represents a total upfront cash payment consideration of approximately US$523 million for the 65% stake at current exchange rates.

Acotec is a leader in innovative medical solutions, including drug-coated balloons (DCBs), which are used in the treatment of vascular and other diseases. In 2016, the company launched the first peripheral DCB in China after receiving approval from the National Medical Products Administration. The Acotec portfolio also includes radiofrequency ablation technologies and thrombus aspiration catheters, as well as more than 20 other products in various stages of development across a range of specialties. In the 12-month period ending June 30, 2022, Actotec generated sales of RMB 339 million (approximately US$53 million), growing 25% year-over-year in the first six months of 2022 with strong double-digit growth in each of the two years prior.

A sum of 6317211 shares traded at recent session while its average daily volume was at 7.02M shares. Boston Scientific Corporation shares reached a high of $47.17 and dropped to a low of $46.18 until finishing in the latest session at $47.13.

The one-year BSX stock forecast points to a potential upside of 4.34. The average equity rating for BSX stock is currently 1.80, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $49.27 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.

Barclays have made an estimate for Boston Scientific Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 18, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on October 12, 2022, representing the official price target for Boston Scientific Corporation stock. Previously, the target price had yet another raise to $43, while Wolfe Research analysts kept a Outperform rating on BSX stock.

The Average True Range (ATR) for Boston Scientific Corporation is set at 0.97, with the Price to Sales ratio for BSX stock in the period of the last 12 months amounting to 5.38. The Price to Book ratio for the last quarter was 3.83, with the Price to Cash per share for the same quarter was set at 0.24. Price to Free Cash Flow for BSX in the course of the last twelve months was 121.87 with Quick ratio for the last quarter at 0.90.

BSX Stock Performance Analysis:

Boston Scientific Corporation [BSX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.76. With this latest performance, BSX shares gained by 7.70% in over the last four-week period, additionally plugging by 29.44% over the last 6 months – not to mention a rise of 14.48% 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 69.71, with the RSI for the last a single of trading hit 72.91, and the three-weeks RSI is set at 66.94 for Boston Scientific Corporation [BSX]. The present Moving Average for the last 50 days of trading for this stock 42.54, while it was recorded at 46.09 for the last single week of trading, and 41.29 for the last 200 days.

Insight into Boston Scientific Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Boston Scientific Corporation [BSX] shares currently have an operating margin of +16.17 and a Gross Margin at +62.76. Boston Scientific Corporation’s Net Margin is presently recorded at +8.75.

Return on Equity for this stock inclined to 6.51, with Return on Assets sitting at 3.30.

Boston Scientific Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.40.

BSX Stock EPS

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 10.80%.

Boston Scientific Corporation [BSX] Insider Position Details

There are presently around $61,866 million, or 94.50% of BSX stock, in the hands of institutional investors. The top three institutional holders of BSX stocks are: BLACKROCK INC. with ownership of 127,361,993, which is approximately 0.874% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 116,886,236 shares of the stock with an approximate value of $5.51 billion in BSX stocks shares; and MASSACHUSETTS FINANCIAL SERVICES CO /MA/, currently with $3.96 billion in BSX stock with ownership of nearly 0.581% of the company’s market capitalization.

Positions in Boston Scientific Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 417 institutional holders increased their position in Boston Scientific Corporation [NYSE:BSX] by around 57,938,353 shares. Additionally, 374 investors decreased positions by around 50,674,765 shares, while 153 investors held positions by with 1,204,059,700 shares. The mentioned changes placed institutional holdings at 1,312,672,818 shares, according to the latest SEC report filing. BSX stock had 79 new institutional investments in for a total of 6,136,663 shares, while 89 institutional investors sold positions of 19,510,369 shares during the same period.

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