In the last trading session, 12.85 million shares of the Boston Scientific Corporation (NYSE:BSX) were traded, and its beta was 0.79. Most recently the company’s share price was $51.50, and it changed around -$2.18 or -4.06% from the last close, which brings the market valuation of the company to $73.77B. BSX currently trades at a discount to its 52-week high of $54.17, offering almost -5.18% off that amount. The share price’s 52-week low was $34.98, which indicates that the current value has risen by an impressive 32.08% since then. We note from Boston Scientific Corporation’s average daily trading volume that its 10-day average is 8.34 million shares, with the 3-month average coming to 9.06 million.
Boston Scientific Corporation stock received a consensus recommendation rating of a Buy, based on a mean score of 1.80. If we narrow it down even further, the data shows that 0 out of 31 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 5 recommended BSX as a Hold, whereas 22 deemed it a Buy, and 0 rated it as Underweight. Boston Scientific Corporation is expected to report earnings per share of $0.49 for the current quarter.
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Boston Scientific Corporation (NYSE:BSX) trade information
Instantly BSX has showed a red trend with a performance of -4.06% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 54.17 on Tuesday, 05/23/23 increased the stock’s daily price by 4.93%. The company’s shares are currently up 11.30% year-to-date, but still down -4.22% over the last five days. On the other hand, Boston Scientific Corporation (NYSE:BSX) is 0.31% down in the 30-day period. We can see from the shorts that 17.97 million shares have been sold at a short interest cover period of 1.72 day(s).
The consensus price target as assigned by Wall Street analysts is $58.44, which translates to bulls needing to increase their stock price by 11.88% from its current value. Analyst projections state that BSX is forecast to be at a low of $55.00 and a high of $63.00. In order for the stock price to hit the forecast high, the stock would need to plunge -22.33% from its current level, while the stock would need to crash -6.8% from its current level to reach the projected low.
Boston Scientific Corporation (BSX) estimates and forecasts
Boston Scientific Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 19.88 percent over the past six months and at a 14.04% annual growth rate that is well below the industry average of 17.50%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 11.40% in revenue this quarter, and will report an increase of 11.60% in the next quarter. The year-over-year growth rate is expected to be 9.90%, up from the previous year.
Consensus estimates provided by 21 financial analysts predict the company will bring in an average of $3.5 billion in revenue for the current quarter. 21 analysts expect Boston Scientific Corporation to make $3.44 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $3.24 billion and $3.17 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 7.90%. Forecasts for the next quarter put sales growth at 8.40%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -8.40%. Boston Scientific Corporation earnings are expected to increase by -35.10% in 2023, but the outlook is positive 12.17% per year for the next five years.
Boston Scientific Corporation’s next quarterly earnings report is expected to be released around July 25 and July 31.
Boston Scientific Corporation (NYSE:BSX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.27% of Boston Scientific Corporation shares, and 93.96% of them are in the hands of institutional investors. The stock currently has a share float of 94.22%. Boston Scientific Corporation stock is held by 1,436 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2023, it held 9.55% of the shares, which is about 137.37 million shares worth $7.07 billion.
Vanguard Group, Inc. (The), with 8.36% or 120.24 million shares worth $6.19 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 43.54 million shares worth $2.24 billion, making up 3.03% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 33.11 million shares worth around $1.71 billion, which represents about 2.31% of the total shares outstanding.