Discussing Boston Scientific’s Stock Performance in 2018 So Far



Boston Scientific’s recent trading activity

On July 9, Boston Scientific (BSX) stock ended the trading day at $33.79, a rise of ~0.50% compared to the previous day. Boston Scientific stock was trading 38% higher than its 52-week low of $24.54 on December 6, 2017. It was trading ~9.4% lower than its 52-week high of $37.30 on June 11.

Currently, Boston Scientific stock is trading higher than its 50-day moving average of $31.86 as well as its 200-day moving average of $28.74. Over the last week, BSX stock has risen ~3.3%. YTD (year-to-date), the stock has returned ~36.3%.

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Major events that triggered BSX’s recent stock performance

On June 11, Boston Scientific registered a rise of ~7.5% on the news of a takeover bid by Stryker, which was refuted by Stryker on June 13, leading to a fall of ~6.3% in BSX on the day.

Boston Scientific has been on an upward trend in 2018 triggered by a number of key acquisitions. On April 16, Boston Scientific announced its acquisition of nVision Medical, leading its stock price to rise ~1.8%. Its stock rose ~2.3% on April 3 following its acquisition of Securus Medical Group. The company has made six acquisitions YTD in 2018.

Comparison with industry and market performances

Over the last year, Boston Scientific stock has registered a rise of ~22.5%. The stock registered a significant fall at the end of 2017 due to a delay in the launch of its Lotus devices. But the stock has recovered in 2018 on the back of key launches, strategic acquisitions, and strong earnings. Over the last three months, BSX stock has risen ~23%. In comparison, the iShares U.S. Medical Devices ETF (IHI) has returned ~24% over the past year as of July 10.

As of July 10, Boston Scientific’s peers Medtronic (MDT), Edwards Lifesciences (EW), and Abbott Laboratories (ABT) had reported stock returns of -0.15%, 25%, and 30%, respectively, over the last year.

In the next article, we’ll take a look at Boston Scientific’s recent acquisition of Cryterion Medical.

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