Needham has recently reduced Boston Scientific Corporation (BSX) stock to Hold rating, as announced on October 18, 2024, according to Finviz. Earlier, on May 30, 2024, Goldman had initiated the stock to Buy, setting a price target of $90. Mizuho also raised Buy rating with a price target of $80. Additionally, Robert W. Baird initiated Outperform rating on July 19, 2023, with a target price of $59. CL King analysts, in their report published on June 30, 2023, also initiated Buy rating for Boston Scientific Corporation’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Boston Scientific Corporation (BSX) Stock Trading Recap
On Friday, Boston Scientific Corporation (BSX) stock saw a modest uptick, ending the day at $88.07 which represents a slight increase of $1.65 or 1.91% from the prior close of $86.42. The stock opened at $86.12 and touched a low of $85.5 during the day, reaching a high of $88.71. The volume of shares traded was 6.32 million exceeding the average volume of 5.56 million.
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BSX Stock Performance and Moving Averages
In recent trading, Boston Scientific Corporation (BSX) stock price has shown some volatility, fluctuating 1.11% over the last five trades and 5.21% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 30.80%, and it has gained 12.52% in the previous three months. Currently, BSX is trading at 3.35%, 6.92%, and 20.10% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, BSX, a Healthcare sector stock, is trading -0.02% below its 52-week high but remains 79.20% above its 52-week low. The Average True Range (ATR) (14 days) of 1.42 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Boston Scientific Corporation’s Profitability and Valuation Ratios
Boston Scientific Corporation’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 16.46% and a profit margin of 12.00%, with a gross margin of 30.80%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Boston Scientific Corporation’s market capitalization stands at $129.69 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 71.25, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 32.2. Additionally, the Price-to-Sales Ratio is 8.52, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 6.36, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.43% of Boston Scientific Corporation (BSX)’s shares, while financial institutions hold 91.55%.
Notable insider trades include Mahoney Michael F, Chairman, President & CEO at Boston Scientific Corporation (BSX), who sold 162777 shares on Oct 07 ’24, at $84.63 each, totaling $13.78 million. On Oct 07 ’24, Fitzgerald Joseph Michael, EVP & Group Pres, Cardiology, sold 132527 shares for $85 each, amounting to $11.26 million. Additionally, on Oct 01 ’24, Carruthers Wendy sold 6983 shares at $83.86 each, generating $0.59 million.
