Boston Scientific Corporation (BSX) rating initates by Robert W. Baird


Boston Scientific Corporation’s recent filing unveils that its EVP& Grp Pres, MedSurg & APAC Butcher Arthur C unloaded Company’s shares for reported $0.33 million on Aug 21. In the deal valued at $50.40 per share,6,600 shares were sold. As a result of this transaction, Butcher Arthur C now holds 11,396 shares worth roughly $ 0.58 million.

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Then, Dockendorff Charles J sold 17,079 shares, generating $866,631 in total proceeds. Upon selling the shares at $50.74, the Director now owns 3,946 shares.

Before that, Carruthers Wendy sold 11,671 shares. Boston Scientific Corporation shares valued at $598,678 were divested by the EVP, Human Resources at a price of $51.30 per share. As a result of the transaction, Carruthers Wendy now holds 62,321 shares, worth roughly $3.16 million.

Robert W. Baird initiated its Boston Scientific Corporation [BSX] rating to an Outperform in a research note published on Friday, July 19, 2023; the price target was $59. PT values the company’s stock at a premium of 13.97 to its Friday closing price.

Price Performance Review of BSX

On Friday, Boston Scientific Corporation [NYSE:BSX] saw its stock jump 0.65% to $50.76. On the same session, the stock had its day’s lowest price of $50.085, but rose to a high of $50.815. Over the last five days, the stock has gained 1.14%. Boston Scientific Corporation shares have risen nearly 9.70% since the year began. Nevertheless, the stocks have risen 23.35% over the past one year. While a 52-week high of $54.74 was reached on 06/23/23, a 52-week low of $37.74 was recorded on 01/11/23. SMA at 50 days reached $52.24, while 200 days put it at $49.20. A total of 6.58 million shares were traded, compared to the trading of 7.95 million shares in the previous session.

Levels Of Support And Resistance For BSX Stock

The 24-hour chart illustrates a support level at 50.29, which if violated will result in even more drops to 49.82. On the upside, there is a resistance level at 51.02. A further resistance level may holdings at 51.28. The Relative Strength Index (RSI) on the 14-day chart is 44.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.31, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 54.66%. Stochastics %K at 34.89% indicates the stock is a holding.

How much short interest is there in Boston Scientific Corporation?

A steep rise in short interest was recorded in Boston Scientific Corporation stocks on Aug 14, 2023, growing by 1.36 million shares to a total of 8.72 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 7.36 million shares. There was a rise of 15.6%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 0.60% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.24.

Boston Scientific Corporation [BSX] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 116,379,169 shares, or roughly 7.96% of the outstanding BSX shares. In other words, the investor’s shares have risen by 2,068,425 from its previous 13-F filing of 114310744.0. Additionally, Fidelity Management & Research Co increased 3.89% of its stake after which the total value it holdings stand at $5,236,930,316, while BlackRock Fund Advisors added 2.99% of its stake to hold $3.61 billion in the firm. Over the last quarter, Massachusetts Financial Services sold -10,396,546 shares of Boston Scientific Corporation, while SSgA Funds Management, Inc. sold 1,157,186 shares. At present, Wellington Management Co. LLP is holding 39,740,181 shares valued at $2.06 billion. PRIMECAP Management Co. owned 37,428,979 shares of the company at the time of its most recent 13F filing, worth $1.94 billion.

According to FactSet, Boston Scientific Corporation’s share price will average $60.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 19.97 percent from its previous closing price of $50.43. Analysts expect Boston Scientific Corporation stock to reach the higher price of $68.00, while the lowest price estimate is $55.00. However, 31 analysts have rated BSX stock as a Buy in their predictions for 2023.


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