Is Buying 52-Week Stock Like Boston Scientific Corporation (BSX) a Winning Strategy?

May 22, 2018 - By reb123z

Boston Scientific Corporation (NYSE:BSX) Logo

Investors sentiment increased to 1.34 in Q4 2017. Its up 0.30, from 1.04 in 2017Q3. It improved, as 36 investors sold Boston Scientific Corporation shares while 158 reduced holdings. 86 funds opened positions while 174 raised stakes. 1.18 billion shares or 2.38% less from 1.21 billion shares in 2017Q3 were reported.
Employees Retirement Sys Of Texas owns 0.18% invested in Boston Scientific Corporation (NYSE:BSX) for 568,200 shares. Covington invested in 0% or 1,016 shares. Jgp Glob Gestao De Recursos Ltda reported 13,834 shares or 0.17% of all its holdings. Hsbc Holdings Public Limited Liability Corporation stated it has 0.05% of its portfolio in Boston Scientific Corporation (NYSE:BSX). New York-based State Teachers Retirement Sys has invested 0.13% in Boston Scientific Corporation (NYSE:BSX). 122,829 were accumulated by Commonwealth Of Pennsylvania Pub School Empls Retrmt. Evercore Wealth Mgmt Ltd owns 13,363 shares. Principal Gru has 2.01M shares. Jennison Assoc has 0.04% invested in Boston Scientific Corporation (NYSE:BSX). California State Teachers Retirement Systems accumulated 0.12% or 2.27 million shares. Hussman Strategic Advsr Inc reported 50,000 shares. Tourbillon Capital Ptnrs Ltd Partnership owns 450,000 shares. Nomura Asset Mngmt Ltd reported 0.08% stake. First Quadrant Lp Ca reported 42,600 shares. The California-based San Francisco Sentry Group Inc (Ca) has invested 0.05% in Boston Scientific Corporation (NYSE:BSX).

Since December 29, 2017, it had 0 insider purchases, and 17 insider sales for $8.68 million activity. Pierce David A sold $143,982 worth of stock or 5,000 shares. Another trade for 31,056 shares valued at $931,680 was made by Ballinger Kevin J. on Monday, May 7. 7,500 shares valued at $225,413 were sold by Butcher Arthur C on Thursday, May 10. The insider Fitzgerald Joseph Michael sold 85,227 shares worth $2.26 million. Another trade for 15,835 shares valued at $399,865 was sold by Phalen Michael P.. The insider Brennan Daniel J. sold 60,209 shares worth $1.68 million.

The stock of Boston Scientific Corporation (NYSE:BSX) hit a new 52-week high and has $31.62 target or 4.00 % above today’s $30.40 share price. The 9 months bullish chart indicates low risk for the $41.94 billion company. The 1-year high was reported on May, 22 by Barchart.com. If the $31.62 price target is reached, the company will be worth $1.68 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.82% or $0.25 during the last trading session, reaching $30.4. About 2.28 million shares traded. Boston Scientific Corporation (NYSE:BSX) has risen 9.97% since May 22, 2017 and is uptrending. It has underperformed by 1.58% the S&P500.

Analysts await Boston Scientific Corporation (NYSE:BSX) to report earnings on July, 26. They expect $0.34 EPS, up 6.25 % or $0.02 from last year’s $0.32 per share. BSX’s profit will be $469.03M for 22.35 P/E if the $0.34 EPS becomes a reality. After $0.33 actual EPS reported by Boston Scientific Corporation for the previous quarter, Wall Street now forecasts 3.03 % EPS growth.

Boston Scientific Corporation (NYSE:BSX) Ratings Coverage

Among 18 analysts covering Boston Scientific Corp (NYSE:BSX), 16 have Buy rating, 0 Sell and 2 Hold. Therefore 89% are positive. Boston Scientific Corp had 29 analyst reports since November 28, 2017 according to SRatingsIntel. The stock has “Buy” rating by BMO Capital Markets on Wednesday, November 29. As per Friday, December 8, the company rating was upgraded by Needham. The stock has “Buy” rating by Citigroup on Tuesday, May 1. The firm has “Outperform” rating by Leerink Swann given on Thursday, April 26. RBC Capital Markets maintained the stock with “Buy” rating in Thursday, February 1 report. The firm has “Hold” rating given on Friday, February 2 by Jefferies. The firm earned “Buy” rating on Thursday, February 1 by Needham. The stock of Boston Scientific Corporation (NYSE:BSX) earned “Buy” rating by Needham on Wednesday, April 25. The firm has “Top Pick” rating given on Friday, January 5 by RBC Capital Markets. The stock has “Overweight” rating by JP Morgan on Thursday, April 26.

More news for Boston Scientific Corporation (NYSE:BSX) were recently published by: Forbes.com, which released: “A Quick Snapshot Of Boston Scientific’s Rhythm Management & Neuro Segment” on May 16, 2018. Streetinsider.com‘s article titled: “JANA Shows New Stakes in Apple (AAPL), Boston Scientific (BSX), Dropbox (DBX), iQIYI (IQ) (more..) -13F” and published on May 15, 2018 is yet another important article.

Boston Scientific Corporation develops, makes, and markets medical devices for use in various interventional medical specialties worldwide. The company has market cap of $41.94 billion. It operates through three divisions: Cardiovascular, Rhythm Management, and MedSurg. It has a 400 P/E ratio. The firm offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

Boston Scientific Corporation (NYSE:BSX) Institutional Positions Chart

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