Reviewing The Case For Boston Scientific Corp. (BSX) Going Higher

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

The company’s stock has a 5-day price change of -3.48% and 0.15% over the past three months. BSX shares are trading 26.21% year to date (YTD), with the 12-month market performance up to 43.40% higher. It has a 12-month low price of $48.35 and touched a high of $79.43 over the same period. BSX has an average intraday trading volume of 5.90 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 -4.50%, -4.46%, and 10.84% respectively.

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Institutional ownership of Boston Scientific Corp. (NYSE: BSX) shares accounts for 92.89% of the company’s 1.47B shares outstanding.

It has a market capitalization of $107.44B and a beta (3y monthly) value of 0.78. The stock’s trailing 12-month PE ratio is 59.03, while the earnings-per-share (ttm) stands at $1.24. The company has a PEG of 4.78 and a Quick Ratio of 1.14 with the debt-to-equity ratio at 0.54. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.24% over the week and 2.09% over the month.

Earnings per share for the fiscal year are expected to increase by 17.28%, and 13.32% over the next financial year. EPS should grow at an annualized rate of 12.34% 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. Goldman stated their Buy rating for the stock in a research note on May 30, 2024, with the firm’s price target at $90. Mizuho coverage for the Boston Scientific Corp. (BSX) stock in a research note released on February 01, 2024 offered a Buy rating with a price target of $80. Robert W. Baird was of a view on July 19, 2023 that the stock is Outperform, while CL King gave the stock Buy rating on June 30, 2023, issuing a price target of $64. Morgan Stanley on their part issued Overweight rating on May 30, 2023.

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