Boston Scientific Corporation (BSX) shares are trading at lower $33.81 and the avg recommendation for the stock is Strong Buy, while the current analyst price target stands at $43.50.
To add more color to this target, the company’s high over the last year is $46.62 and the low is $24.10. Over the last 52 weeks, BSX is down -21.39% while the S&P 500 is up 17.73%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, BSX reported a profit of $1.79 billion. Boston Scientific Corporation also saw revenues increase to $2.66 billion. In addition, BSX has free cash flow of $618.0 million as of 09-2020. The company’s EBITDA came in at -$206.0 million which compares well with its peers.
BSX booked profit margins of 36.50%, its Return on Equity (ROE) is 25.00%, and its Return on Assets is 12.00%. All told, it is clear that, BSX needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. BSX has a short ratio of 1.12 and outstanding shares of 1.43B.
Company Outlook
BSX has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 14.78 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.29. Boston Scientific Corporation BSX also noted assets of $30.85 billion at the end of the last quarter. Investors should also keep an eye on sector updates as BSX has historically followed its peers on positive news.
All told, Boston Scientific Corporation BSX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, BSX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Boston Scientific Corporation BSX is now commanding a market cap of 48.34B and a float of 1.43B. BSX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of BSX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in BSX, either long or short, and we have not been compensated for this article.