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BSX Stock Regains Momentum after Its Recent Bearish Trend

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Nov. 20 2020, Updated 12:49 p.m. ET

Boston Scientific’s recent stock performance

On February 14, 2018, Boston Scientific (BSX) stock closed the day at $26.81. The stock was trading near its 50-day moving average of $26.82 and lower than its 200-day moving average of $27.47.

Boston Scientific was trading at its 52-week low of $23.29 on February 23, 2017, and it was trading at its 52-week high of $29.93 on October 23, 2017.

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Recent developments that triggered the stock movement

On February 1, 2018, Boston Scientific announced its 4Q17 and 2017 earnings results. The company surpassed analysts’ estimates, but the stock fell ~1%. On December 11, 2017, BSX stock rose ~3% on the news of the FDA’s approval of its Vercise DBS (deep brain stimulation) system for the treatment of Parkinson’s disease. The stock also registered a rise of ~3% on December 8, 2017, following a rating upgrade from a “buy” to a “strong buy” by Needham & Company. For more details on these developments, read Boston Scientific: Stock, Analyst Upgrades, Product Approvals.

Boston Scientific registered a steep fall of 9% on November 28 and the following day triggered by its announcement of a delay in the relaunch of its Lotus device, which was recalled in February 2017. For more details, read What’s behind Boston Scientific’s Recent Stock Fall? The company discussed the device’s relaunch timeline during its recent earnings release on February 1, 2018.

Peer comparison

Over the past 12 months, BSX stock has risen ~6.4%. Year-to-date, the stock has risen ~8.2%. However, over the past month, the stock has registered a fall of ~2.4%.

In comparison, the iShares US Medical Devices ETF (IHI), which represents the US medical device industry, has returned ~25% in the last 12 months. As of February 14, 2018, Boston Scientific’s peers Medtronic (MDT), Edwards Lifesciences (EW), and Abbott Laboratories (ABT) have registered stock price rises of 7.5%, 44.2%, and 30.5%, respectively. BSX stock has largely underperformed its peers and the broader US medical device sector.

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