Is Boston Scientific Corp. (NYSE: BSX) A Good Pick For New Investors Now?

Boston Scientific Corp. (NYSE:BSX) shares, rose in value on Thursday, April 04, with the stock price up by 1.07% to the previous day’s close as strong demand from buyers drove the stock to $68.86.

Actively observing the price movement in the recent trading, the stock is buoying the session at $68.13. The value of beta (5-year monthly) is 0.79 whereas the PE ratio is 64.34 over 12-month period. Referring to stock’s 52-week performance, its high was $68.92, and the low was $48.35. On the whole, BSX has fluctuated by 2.75% over the past month.

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With the market capitalization of Boston Scientific Corp. currently standing at about $101.22 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 24, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.51, which is expected to increase to $0.59 for fiscal year $2.25 and then to about $2.55 by fiscal year 2025. Data indicates that the EPS growth is expected to be 9.80% in 2025, while the next year’s EPS growth is forecast to be 13.30%.

Analysts have estimated the company’s revenue for the quarter at $3.68 billion, with a low estimate of $3.64 billion and a high estimate of $3.72 billion. According to the average forecast, sales growth in current quarter could jump up 8.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $15.58 billion, representing an increase of 9.40% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BSX’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 5.24, with the price of BSX currently trading nearly 2.07% and 4.54% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 61.56, while the 7-day volatility ratio is showing 1.13% which for the 30-day chart, stands at 1.40%. Furthermore, Boston Scientific Corp. (BSX)’s beta value is 0.79, and its average true range (ATR) is 0.92.

A comparison of Boston Scientific Corp. (BSX) with its peers suggests the former has fared considerably weaker in the market. BSX showed an intraday change of 1.07% in today’s session so far, and over the past year, it grew by 38.50%%.

Data on historical trading for Boston Scientific Corp. (NYSE:BSX) indicates that the trading volumes over the past 10 days have averaged 4.62 million and over the past 3 months, they’ve averaged 6.47 million. According to company’s latest data on outstanding shares, there are 1.47 billion shares outstanding.

Nearly 0.44% of Boston Scientific Corp.’s shares belong to company insiders and institutional investors own 94.64% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.48 million shares as on Mar 15, 2024, resulting in a short ratio of 1.75. According to the data, the short interest in Boston Scientific Corp. (BSX) stood at 0.78% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 11.03 million. The stock has risen by 19.11% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BSX stock heading into the next quarter.