Discussing Boston Scientific Stock’s Recent Movements
Boston Scientific (BSX) was trading at $27.2 on May 25, 2017. It had a 50-day moving average of $25.8 and a 200-day moving average of $23.9.
The stock has witnessed significant volatility in its movements recently. However, Boston Scientific has reported solid returns in recent years, even amid challenging market conditions. It’s gone through a turnaround since the lows it hit after its Guidant acquisition.
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On May 25, Boston Scientific was trading at its 52-week high of $27.4, ~38% above its 52-week low of $19.7 as of December 1, 2016. The company’s share price has risen ~5% since the release of its 1Q17 earnings on April 27, 2017.
On February 23, 2017, Boston Scientific stock fell ~7% in premarket trading following its announcement of the recall of its Lotus devices. However, by the end of the day, the stock had regained some of its price momentum, registering a net fall of ~2.5%. On March 30, 2017, Boston Scientific announced its acquisition of Symetis, leading to a rise in its share price.
Comparisons with industry and market performances
Boston Scientific stock has returned ~22% in the last 12 months. It’s outperformed the market represented by the S&P 500 Index, which has returned ~18% during the same period. The Health Care Select Sector SPDR ETF (XLV) has risen ~9% in the last 12 months.
Boston Scientific’s stock performance can also be compared to the performance of the US medical device sector, which is represented by the iShares U.S. Medical Devices ETF (IHI). Boston Scientific has returned ~26% on a YTD (year-to-date) basis. This figure compares to the 7.9% and 20.6% YTD returns generated by the market and IHI, respectively.
As of May 25, 2017, Boston Scientific’s peers Stryker (SYK), Abbott Laboratories (ABT), and Edwards Lifesciences (EW) have generated returns of 25.4%, 5.6%, and 4.4%, respectively, in the past 12 months.