What Next for Boston Scientific Corporation (NYSE:BSX) Stock After Increase in Shorted Shares?

September 17, 2017 - By Winifred Garcia

 What Next for Boston Scientific Corporation (NYSE:BSX) Stock After Increase in Shorted Shares?

Investors sentiment decreased to 0.84 in Q4 2016. Its down 0.28, from 1.12 in 2016Q3. It is negative, as 67 investors sold Boston Scientific Corporation shares while 195 reduced holdings. 60 funds opened positions while 161 raised stakes. 1.23 billion shares or 1.80% more from 1.21 billion shares in 2016Q3 were reported.
High Pointe Cap Mgmt Lc holds 27,930 shares. Marietta Investment Prtnrs Llc holds 0.18% or 24,200 shares. Chevy Chase Tru reported 1.14 million shares. Sector Gamma As accumulated 5.11% or 1.26M shares. Stifel Financial owns 941,034 shares or 0.09% of their US portfolio. Timber Hill Limited Liability Co holds 0.01% or 114,872 shares. Livforsakringsbolaget Skandia Omsesidigt holds 0.1% or 92,747 shares. Somerset Grp Lc holds 48,200 shares or 1.03% of its portfolio. Braun Stacey Assoc has 726,795 shares. California State Teachers Retirement System invested in 2.81M shares or 0.12% of the stock. 2.56M were accumulated by Aqr Capital Mngmt Llc. Point72 Asset Mgmt L P, a Connecticut-based fund reported 358,400 shares. American Intl Group Inc Incorporated has 421,759 shares. Finemark Bancorp & invested 0% in Boston Scientific Corporation (NYSE:BSX). Nordea Mgmt Ab reported 74,083 shares stake.

Since March 29, 2017, it had 0 insider purchases, and 10 sales for $4.84 million activity. Shares for $408,778 were sold by Phalen Michael P.. Pierce David A sold 2,972 shares worth $82,313. Pratt Timothy A. sold $271,261 worth of Boston Scientific Corporation (NYSE:BSX) on Thursday, June 1. 28,864 shares were sold by Ballinger Kevin J., worth $754,454. On Monday, April 10 the insider Sorenson John Bradley sold $72,747.

The stock of Boston Scientific Corporation (NYSE:BSX) registered an increase of 10.65% in short interest. BSX’s total short interest was 12.26 million shares in September as published by FINRA. Its up 10.65% from 11.08 million shares, reported previously. With 4.51M shares average volume, it will take short sellers 3 days to cover their BSX’s short positions. The short interest to Boston Scientific Corporation’s float is 0.9%.

The stock decreased 0.14% or $0.04 on September 15, reaching $28.93. About 7.68M shares traded or 61.68% up from the average. Boston Scientific Corporation (NYSE:BSX) has risen 19.12% since September 17, 2016 and is uptrending. It has outperformed by 2.42% the S&P500.

Boston Scientific Corporation is a developer, maker and marketer of medical devices that are used in a range of interventional medical specialties. The company has market cap of $39.70 billion. The Firm offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology. It has a 50.69 P/E ratio. It operates in three divisions: Cardiovascular, Rhythm Management and MedSurg.

Boston Scientific Corporation (NYSE:BSX) Ratings Coverage

Among 27 analysts covering Boston Scientific Corporation (NYSE:BSX), 21 have Buy rating, 0 Sell and 6 Hold. Therefore 78% are positive. Boston Scientific Corporation had 59 analyst reports since July 27, 2015 according to SRatingsIntel. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, April 28. Needham maintained the shares of BSX in report on Thursday, June 22 with “Buy” rating. The stock of Boston Scientific Corporation (NYSE:BSX) has “Buy” rating given on Thursday, April 28 by Stifel Nicolaus. The stock of Boston Scientific Corporation (NYSE:BSX) has “Buy” rating given on Tuesday, September 22 by UBS. The firm has “Buy” rating given on Wednesday, June 28 by Barclays Capital. Needham maintained it with “Buy” rating and $3200 target in Thursday, July 27 report. The firm has “Buy” rating given on Thursday, March 17 by Nomura. Citigroup initiated it with “Buy” rating and $23 target in Thursday, November 12 report. Jefferies maintained Boston Scientific Corporation (NYSE:BSX) on Friday, July 28 with “Hold” rating. As per Friday, July 29, the company rating was maintained by Wedbush.

More recent Boston Scientific Corporation (NYSE:BSX) news were published by: Prnewswire.com which released: “Boston Scientific To Participate In Morgan Stanley Global Healthcare Conference” on August 21, 2017. Also Investorplace.com published the news titled: “3 Big Stock Charts for Tuesday: Abbott Laboratories (ABT), Aetna Inc (AET) and …” on September 12, 2017. Nasdaq.com‘s news article titled: “Boston Scientific Grows on Innovation, Buyouts Amid Woes” with publication date: September 06, 2017 was also an interesting one.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.