Boston Scientific (BSX) is one of the major medical device companies in the United States. It has a broad portfolio of minimally invasive technologies and advanced therapies in the specialty areas of cardiovascular, rhythm management, and MedSurg. The company was trading at $23.7 on September 26, 2016, with a 50-day moving average of $23.9 and a 200-day moving average of $22.3. For a detailed company overview, read A Must-Read Company Overview of Boston Scientific.
On September 26, 2016, Boston Scientific was trading ~51% above its 52-week low of $15.7 on February 8, 2016, and ~4.4% below its 52-week high of $24.8 on July 28, 2016, which was triggered by the positive investor sentiments after the company announced better-than-expected earnings results on the same day. Boston Scientific’s stock price has risen approximately 0.3% since then.
Boston Scientific’s stock price rose more than 2% after the release of its 2Q16 results on July 28, 2016. The company’s earnings and revenues exceeded analysts’ estimates, and Boston Scientific raised its fiscal 2016 guidance. Since July 28, 2016, the company’s stock has traded between $23.1 and $24.5.
Comparisons with industry and market performances
Boston Scientific has risen ~45.5% in the past 12 months. The company’s stock has outperformed the market as represented by the S&P 500 Index, which has returned ~11.2% during the same period.
Boston Scientific’s stock performance can also be compared to the US medical device sector performance as represented by the iShares U.S. Medical Devices ETF (IHI). BSX has returned ~27.5% on a YTD (year-to-date) basis. This figure compares to the 4% and 16.5% returns generated by the market and the iShares U.S. Medical Devices ETF.
As of September 26, 2016, Boston Scientific’s peers Medtronic (MDT), Abbott Laboratories (ABT), and Zimmer-Biomet Holdings (ZBH) have generated returns of 34.2%, 2%, and 34.3%, respectively, during the past 12 months.
In the next part of this series, let’s look at BSX’s latest acquisition of EndoChoice.