In the last trading session, 6.46 million shares of the Boston Scientific Corp. (NYSE:BSX) were traded, and its beta was 0.78. Most recently the company’s share price was $67.49, and it changed around $1.37 or 2.07% from the last close, which brings the market valuation of the company to $99.01B. BSX currently trades at a discount to its 52-week high of $68.07, offering almost -0.86% off that amount. The share price’s 52-week low was $46.21, which indicates that the current value has risen by an impressive 31.53% since then. We note from Boston Scientific Corp.’s average daily trading volume that its 10-day average is 6.74 million shares, with the 3-month average coming to 6.63 million.
Boston Scientific Corp. stock received a consensus recommendation rating of Overweight, based on a mean score of 1.42. If we narrow it down even further, the data shows that 0 out of 24 analysts rate the stock as a Sell; another 10 rate it as Overweight. Among the rest, 6 recommended BSX as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Boston Scientific Corp. is expected to report earnings per share of $0.51 for the current quarter.
Boston Scientific Corp. (NYSE:BSX) trade information
Instantly BSX has showed a green trend with a performance of 2.07% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 16.74% year-to-date, but still up 0.70% over the last five days. On the other hand, Boston Scientific Corp. (NYSE:BSX) is 3.04% up in the 30-day period. We can see from the shorts that 9.44 million shares have been sold at a short interest cover period of 1.37 day(s).
The consensus price target as assigned by Wall Street analysts is $57.93, which translates to bulls needing to decrease their stock price by -16.5% from its current value. Analyst projections state that BSX is forecast to be at a low of $43 and a high of $132.
Boston Scientific Corp. (BSX) estimates and forecasts
Boston Scientific Corp. 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 23.70 percent over the past six months and at a 9.76% annual growth rate that is well below the industry average of 18.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 8.50% in revenue this quarter, and will report an increase of 5.70% in the next quarter. The year-over-year growth rate is expected to be 9.40%, up from the previous year.
Consensus estimates provided by 24 financial analysts predict the company will bring in an average of $3.68 billion in revenue for the current quarter. 24 analysts expect Boston Scientific Corp. to make $3.93 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $3.39 billion and $3.6 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 8.70%. Forecasts for the next quarter put sales growth at 9.10%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -2.05%. Boston Scientific Corp. earnings are expected to increase by 10.04% in 2024, but the outlook is positive 12.04% per year for the next five years.
BSX Dividends
Boston Scientific Corp.’s next quarterly earnings report is expected to be released around April 24 and April 29.
Boston Scientific Corp. (NYSE:BSX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.25% of Boston Scientific Corp. shares, and 93.84% of them are in the hands of institutional investors. The stock currently has a share float of 94.07%. Boston Scientific Corp. stock is held by 1,666 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 9.39% of the shares, which is about 137.49 million shares worth $7.44 billion.
Vanguard Group Inc, with 8.35% or 122.24 million shares worth $6.61 billion as of Jun 29, 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 Jun 29, 2023. The former held 45.63 million shares worth $2.47 billion, making up 3.12% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 34.23 million shares worth around $1.85 billion, which represents about 2.34% of the total shares outstanding.
