Boston Scientific Corporation [NYSE: BSX] stock went on an upward path that rose over 1.25% on Friday, amounting to a one-week price decrease of less than -0.04%. The company report on January 3, 2023 that Boston Scientific to Participate in J.P. Morgan Healthcare Conference and Announces Conference Call Discussing Fourth Quarter 2022 Results.
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Boston Scientific Corporation (NYSE: BSX) will participate in the 41st Annual J.P. Morgan Healthcare Conference on Wednesday, January 11, 2023 in San Francisco, California. Mike Mahoney, chairman and chief executive officer, will present at approximately 8:15 a.m. PST / 11:15 a.m. EST. Mahoney will be joined by Dan Brennan, executive vice president and chief financial officer, Kenneth Stein, M.D., senior vice president and chief medical officer, Cardiac Rhythm Management, and Lauren Tengler, vice president, Investor Relations, in a question-and-answer session with the host analyst.
On Wednesday February 1, 2023, Boston Scientific will webcast its conference call discussing financial results and business highlights for the fourth quarter ended December 31, 2022. The call will begin at 8:00 a.m. EST, hosted by Mike Mahoney and Dan Brennan. The company will issue a news release announcing financial results for the fourth quarter on February 1 prior to the conference call.
Over the last 12 months, BSX stock rose by 7.62%. The one-year Boston Scientific Corporation stock forecast points to a potential upside of 9.56. The average equity rating for BSX stock is currently 1.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $65.54 billion, with 1.43 billion shares outstanding and 1.43 billion shares in the current float. Compared to the average trading volume of 6.84M shares, BSX stock reached a trading volume of 8980864 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $51.23 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.
Mizuho have made an estimate for Boston Scientific Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 22, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on December 20, 2022, representing the official price target for Boston Scientific Corporation stock. Previously, the target price had yet another raise to $49, while Barclays analysts kept a Overweight rating on BSX stock.
The Average True Range (ATR) for Boston Scientific Corporation is set at 0.83, with the Price to Sales ratio for BSX stock in the period of the last 12 months amounting to 5.22. The Price to Book ratio for the last quarter was 3.76, 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 118.09 with Quick ratio for the last quarter at 0.90.
BSX Stock Performance Analysis:
Boston Scientific Corporation [BSX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.04. With this latest performance, BSX shares gained by 2.59% in over the last four-week period, additionally plugging by 22.44% over the last 6 months – not to mention a rise of 7.62% 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 56.52, with the RSI for the last a single of trading hit 54.93, and the three-weeks RSI is set at 57.56 for Boston Scientific Corporation [BSX]. The present Moving Average for the last 50 days of trading for this stock 44.50, while it was recorded at 46.17 for the last single week of trading, and 41.55 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 10.77%.
Boston Scientific Corporation [BSX] Insider Position Details
There are presently around $60,138 million, or 94.60% 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 $5.42 billion in BSX stocks shares; and MASSACHUSETTS FINANCIAL SERVICES CO /MA/, currently with $3.9 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 February and at the time of the February reporting period, where 415 institutional holders increased their position in Boston Scientific Corporation [NYSE:BSX] by around 57,824,455 shares. Additionally, 370 investors decreased positions by around 50,191,583 shares, while 151 investors held positions by with 1,190,015,058 shares. The mentioned changes placed institutional holdings at 1,298,031,096 shares, according to the latest SEC report filing. BSX stock had 80 new institutional investments in for a total of 6,143,138 shares, while 89 institutional investors sold positions of 19,510,369 shares during the same period.