Is Boston Scientific Corp. (NYSE: BSX) Back In The Buying Zone?

Currently, there are 1.47B common shares owned by the public and among those 1.46B shares have been available to trade.

However, the script later moved the day high at 67.68, down -0.95%. The company’s stock has a 5-day price change of 0.24% and 16.68% over the past three months. BSX shares are trading 16.68% year to date (YTD), with the 12-month market performance up to 35.99% higher. It has a 12-month low price of $48.35 and touched a high of $68.92 over the same period. BSX has an average intraday trading volume of 6.50 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.06%, 2.84%, and 19.35% respectively.

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Institutional ownership of Boston Scientific Corp. (NYSE: BSX) shares accounts for 94.04% of the company’s 1.47B shares outstanding.

It has a market capitalization of $99.14B and a beta (3y monthly) value of 0.79. The stock’s trailing 12-month PE ratio is 63.02, while the earnings-per-share (ttm) stands at $1.07. The company has a PEG of 5.13 and a Quick Ratio of 0.82 with the debt-to-equity ratio at 0.49. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.06% over the week and 1.38% over the month.

Earnings per share for the fiscal year are expected to increase by 10.02%, and 13.22% over the next financial year. EPS should grow at an annualized rate of 12.28% over the next five years, compared to -2.05% over the past 5-year period.

Looking at the support for the BSX, a number of firms have released research notes about the stock. Mizuho stated their Buy rating for the stock in a research note on February 01, 2024, with the firm’s price target at $65-$80. Robert W. Baird coverage for the Boston Scientific Corp. (BSX) stock in a research note released on July 19, 2023 offered a Outperform rating with a price target of $59. CL King was of a view on June 30, 2023 that the stock is Buy, while Morgan Stanley gave the stock Overweight rating on May 30, 2023, issuing a price target of $58. UBS on their part issued Buy rating on March 29, 2023.

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