Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Boston Scientific Corporation shares valued at $316,586 were sold by Carruthers Wendy on Sep 15. At $42.21 per share, Carruthers Wendy sold 7,500 shares. The insider’s holdings dropped to 109,913 shares worth approximately $4.32 million following the completion of this transaction.
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Also, Mahoney Michael F sold 125,828 shares, netting a total of over 5,094,310 in proceeds. Following the sale of shares at $40.49 each, the insider now holds 1,767,665 shares.
Before that, Carruthers Wendy had sold 7,500 shares from its account. In a trade valued at $315,260, the EVP, Human Resources traded Boston Scientific Corporation shares for $42.03 each. Upon closing the transaction, the insider’s holdings decreased to 7,500 shares, worth approximately $4.61 million.
As published in their initiating research note from Wolfe Research on July 06, 2022, Boston Scientific Corporation [BSX] has been an Outperform and the price target has been revised to $43. This represents a 8.6% premium over Thursday’s closing price. Analysts at Needham upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late May.
Analyzing BSX’s Price Performance
On Thursday, Boston Scientific Corporation [NYSE: BSX] plunged -1.16% to $39.30. The stock’s lowest price that day was $39.13, but it reached a high of $39.70 in the same session. During the last five days, there has been a drop of approximately -6.87%. Over the course of the year, Boston Scientific Corporation shares have dropped approximately -7.49%. Shares of the company reached a 52-week high of $47.49 on 04/20/22 and a 52-week low of $34.98 on 06/16/22. A 50-day SMA is recorded $40.69, while a 200-day SMA reached $41.48. Nevertheless, trading volume fell to 4.66 million shares from 6.25 million shares the previous day.
Support And Resistance Levels for Boston Scientific Corporation (BSX)
According to the 24-hour chart, there is a support level at 39.05, which, if violated, would cause prices to drop to 38.81. In the upper region, resistance lies at 39.62. The next price resistance is at 39.95. RSI (Relative Strength Index) is 36.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.62, which suggests the price will decrease in the coming days. Percent R is at 96.12%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Boston Scientific Corporation subject to short interest?
Stocks of Boston Scientific Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.98 million shares to 16.04 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 19.02 million shares. A decline of -18.58% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.04 of the overall float, the days-to-cover ratio (short ratio) decline to 2.04.
Which companies own the most shares of Boston Scientific Corporation (BSX)?
According to The Vanguard Group, Inc. filings, the company currently owns 109,447,862 shares, which is about 7.65% of the total BSX shares outstanding. The investor’s shares have appreciated by 1,677,349 from its previous 13-F filing of 107770513.0 shares. With the completion of the sale transaction, Massachusetts Financial Services’s stake is now worth $3,370,142,381. BlackRock Fund Advisors acquire a 2.48% interest valued at $2.77 billion while Fidelity Management & Research Co sold a -14,402,076 stake. A total of -4,679,386 shares of Boston Scientific Corporation were sold by Wellington Management Co. LLP during the quarter, and 447,651 were bought by SSgA Funds Management, Inc.. In its current portfolio, PRIMECAP Management Co. holds 37,819,609 shares valued at $1.52 billion.
In terms of Boston Scientific Corporation share price expectations, FactSet research, analysts set an average price target of $48.47 in the next 12 months, up nearly 20.72% from the previous closing price of $39.76. Analysts anticipate Boston Scientific Corporation stock to reach $53.00 by 2022, with the lowest price target being $43.00. In spite of this, 27 analysts ranked Boston Scientific Corporation stock as a Buy at the end of 2022. On December 10, 2021, RBC Capital Mkts assigned a price target of “an Outperform” to the stock and initiated coverage with a $51.