Boston Scientific (NYSE:BSX) Hits New 52-Week Low – Time to Sell?

Boston Scientific Corporation (NYSE:BSX)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $42.20 and last traded at $43.3040, with a volume of 2016851 shares. The stock had previously closed at $42.63.

Wall Street Analyst Weigh In

BSX has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $71.00 price target on Boston Scientific in a report on Thursday, May 28th. Canaccord Genuity Group cut their target price on Boston Scientific from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Daiwa Securities Group downgraded Boston Scientific from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada lowered their price target on Boston Scientific from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Needham & Company LLC cut their price objective on shares of Boston Scientific from $77.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.92.

Boston Scientific Stock Up 1.7%

The business has a 50-day moving average price of $48.88 and a 200 day moving average price of $66.76. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $64.44 billion, a P/E ratio of 18.14, a P/E/G ratio of 0.85 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Boston Scientific’s revenue was up 11.6% on a year-over-year basis. Boston Scientific has set its Q2 2026 guidance at 0.820-0.840 EPS and its FY 2026 guidance at 3.340-3.410 EPS. On average, equities analysts expect that Boston Scientific Corporation will post 3.36 EPS for the current fiscal year.

Boston Scientific announced that its Board of Directors has initiated a stock repurchase plan on Monday, May 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Cheryl Pegus purchased 1,770 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the acquisition, the director owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David C. Habiger purchased 2,250 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $55.92 per share, with a total value of $125,820.00. Following the completion of the transaction, the director owned 13,878 shares of the company’s stock, valued at $776,057.76. The trade was a 19.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 9,800 shares of company stock valued at $554,012 over the last ninety days. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors have recently made changes to their positions in the company. Outfitters Financial LLC grew its holdings in shares of Boston Scientific by 0.5% during the fourth quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider’s stock valued at $2,291,000 after buying an additional 110 shares in the last quarter. Fayez Sarofim & Co lifted its stake in Boston Scientific by 2.1% in the 3rd quarter. Fayez Sarofim & Co now owns 5,327 shares of the medical equipment provider’s stock worth $520,000 after acquiring an additional 111 shares in the last quarter. Natural Investments LLC boosted its position in Boston Scientific by 2.9% during the 4th quarter. Natural Investments LLC now owns 4,036 shares of the medical equipment provider’s stock worth $384,000 after acquiring an additional 112 shares during the period. Old Port Advisors boosted its position in Boston Scientific by 4.7% during the 4th quarter. Old Port Advisors now owns 2,558 shares of the medical equipment provider’s stock worth $244,000 after acquiring an additional 115 shares during the period. Finally, Thrive Wealth Management LLC grew its stake in Boston Scientific by 1.6% during the 4th quarter. Thrive Wealth Management LLC now owns 7,387 shares of the medical equipment provider’s stock valued at $704,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.