Why Is BSX Stock Trading at Its 14-Year High Today?



BSX stock in bullish territory

Today, Boston Scientific (BSX) stock opened at $37.11 per share, up ~1.8% from yesterday’s closing price of $36.44. The stock has been on an uptrend during the day and is up ~3.0% in afternoon trading. This is the highest level for BSX stock since October 2004.

Currently, BSX stock is trading near its all-time high. Its 52-week low was $24.54 on December 6, 2017. The stock’s 50-day moving average is $34.54, and its 200-day moving average is $31.19.

Boston Scientific (BSX) stock has been on a bullish trend over the last year, driven by strong fundamentals, a robust acquisition strategy, and a diverse product pipeline. The company reported positive second-quarter results on July 25, delivering robust sales and earnings growth. You can see the company’s sales performance trend in the chart above.

Why did BSX stock jump today?

Boston Scientific (BSX) presented at the Morgan Stanley Healthcare Conference today. During the event, Boston Scientific raised its operational sales growth guidance range for the 2019–2020 period to a CAGR[1. compound annual growth rate] of 7.0%–10.0% from the previous guidance range of 7.0%–9.0%.

Boston Scientific’s upward revision in its sales growth guidance was triggered by the increased contribution of 150 basis points from its mergers and acquisitions, compared to the previous contribution estimate of 100 basis points.

On September 6, Boston Scientific announced the acquisition of Augmenix, which is expected to enhance its urology offerings. The transaction cost includes $500.0 million in upfront payments and sales-based milestone payments of up to $100.0 million.

Boston Scientific has announced nine acquisition agreements since the beginning of the year. The total upfront acquisition costs for these nine acquisitions exceed $2.0 billion.

Recent stock performance

Over the last month, BSX stock has risen ~11.3%. Its stock has risen ~15.5% in the last three months, primarily due to product approvals, launches, and strategic acquisition announcements.

BSX stock has risen ~51.3% year-to-date, opening the year at $25.28 per share. Over the past 12 months, BSX stock has risen ~29.0%. The Healthcare Select Sector SPDR ETF (XLV) has risen ~12.0% over the same period.

Check out all the data we’ve added to our quote pages. Now you can get a valuation snapshot, earnings and revenue estimates, and historical data as well as dividend information. Take a look!

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