Boston Scientific Corporation (NYSE:BSX) Sees Large Increase in Short Interest

Boston Scientific Corporation (NYSE:BSX) was the target of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 57,491,117 shares, a growth of 83.0% from the May 14th total of 31,423,298 shares. Currently, 3.9% of the shares of the stock are sold short. Based on an average trading volume of 25,507,630 shares, the short-interest ratio is currently 2.3 days.

Boston Scientific Trading Down 0.5%

Shares of Boston Scientific stock traded down $0.22 during trading on Monday, reaching $46.69. The company’s stock had a trading volume of 5,080,603 shares, compared to its average volume of 17,600,012. Boston Scientific has a 52-week low of $45.99 and a 52-week high of $109.50. The company has a market cap of $69.39 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 0.89 and a beta of 0.56. The firm’s 50-day moving average is $56.37 and its two-hundred day moving average is $74.78. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 EPS. 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, sell-side analysts anticipate that Boston Scientific will post 3.36 earnings per share for the current year.

Boston Scientific announced that its Board of Directors has authorized a stock buyback plan on Monday, May 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

BSX has been the subject of a number of research reports. BTIG Research cut their price target on shares of Boston Scientific from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. Mizuho cut their price target on shares of Boston Scientific from $115.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Royal Bank Of Canada reissued an “outperform” rating on shares of Boston Scientific in a research note on Thursday, May 28th. Argus raised shares of Boston Scientific to a “strong-buy” rating in a research note on Thursday, February 26th. Finally, Robert W. Baird set a $70.00 price objective on shares of Boston Scientific in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.08.

Insider Buying and Selling

In other news, Director David C. Habiger bought 2,250 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $55.92 per share, with a total value of $125,820.00. Following the acquisition, the director owned 13,878 shares of the company’s stock, valued at approximately $776,057.76. The trade was a 19.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cheryl Pegus bought 1,770 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the acquisition, the director directly owned 1,770 shares in the company, valued at $99,987.30. This trade represents a ? increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 9,800 shares of company stock valued at $554,012. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Boston Scientific in the 4th quarter worth $2,199,395,000. Assenagon Asset Management S.A. raised its holdings in Boston Scientific by 133.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,057,936 shares of the medical equipment provider’s stock worth $631,135,000 after purchasing an additional 5,751,760 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Boston Scientific by 31.0% in the 1st quarter. Janus Henderson Group PLC now owns 16,497,366 shares of the medical equipment provider’s stock worth $1,035,202,000 after purchasing an additional 3,907,981 shares in the last quarter. Egerton Capital UK LLP raised its holdings in Boston Scientific by 223.7% in the 3rd quarter. Egerton Capital UK LLP now owns 5,312,504 shares of the medical equipment provider’s stock worth $518,660,000 after purchasing an additional 3,671,548 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new position in Boston Scientific in the 4th quarter worth $280,735,000. Hedge funds and other 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.