Boston Scientific Co. (NYSE:BSX) Short Interest Up 11.2% in November

Boston Scientific Co. (NYSE:BSX - Get Free Report) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 12,250,000 shares, an increase of 11.2% from the November 15th total of 11,020,000 shares. Based on an average daily volume of 5,820,000 shares, the days-to-cover ratio is presently 2.1 days.

Boston Scientific Stock Down 0.3 %

NYSE:BSX traded down $0.31 during trading hours on Friday, hitting $90.11. The stock had a trading volume of 3,181,520 shares, compared to its average volume of 5,970,553. The business has a 50 day simple moving average of $87.98 and a two-hundred day simple moving average of $81.82. The company has a market cap of $132.81 billion, a PE ratio of 74.47, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. Boston Scientific has a 1-year low of $54.95 and a 1-year high of $91.93. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific's revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. Analysts predict that Boston Scientific will post 2.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BSX. Needham & Company LLC reiterated a "hold" rating on shares of Boston Scientific in a report on Wednesday, November 27th. Wells Fargo & Company raised their price target on Boston Scientific from $98.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday. Stifel Nicolaus upped their price objective on Boston Scientific from $85.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, October 18th. BTIG Research raised their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a "buy" rating in a report on Monday, October 14th. Finally, StockNews.com downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $94.43.

Insider Transactions at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares of the company's stock, valued at $87,306.06. This represents a 93.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the sale, the executive vice president now directly owns 29,308 shares of the company's stock, valued at approximately $2,660,580.24. This represents a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock valued at $27,957,676 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Boston Scientific

Hedge funds have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock worth $345,205,000 after buying an additional 173,034 shares during the period. HWG Holdings LP acquired a new stake in shares of Boston Scientific during the 2nd quarter valued at about $482,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider's stock valued at $289,675,000 after buying an additional 30,636 shares in the last quarter. Intech Investment Management LLC increased its holdings in Boston Scientific by 153.5% in the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider's stock worth $16,541,000 after buying an additional 119,525 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in Boston Scientific during the third quarter valued at approximately $567,000. Institutional investors own 89.07% of the company's stock.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.