What’s Happening With Boston Scientific Stock?

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BSX: Boston Scientific logo
BSX
Boston Scientific

Boston Scientific stock (NYSE: BSX) has seen a 9% fall in a month, in line with the broader S&P500, which is down 8%. The recent fall can primarily be attributed to the market weakness, owing to concerns over slowing economic growth. Boston Scientific’s performance was also in line with its peers, including Medtronic, Abbott, and Intuitive Surgical, all down between 8% and 12% over the last month.

Over the recent quarters, Boston Scientific has benefited from a rise in elective procedure volume. It also acquired Baylis Medical in Q1 22, which should bolster the company’s overall revenue growth going forward. Despite the ongoing supply chain disruption, the company posted upbeat Q1 results and raised its full-year outlook. However, BSX stock faces headwinds from the current weakness in broader markets. The S&P500 has now entered the bear market territory with rising concerns of slowing economic growth given the high inflation, Fed action, and supply chain disruptions.

But now that BSX stock has seen a fall of 9% in a month will it continue its downward trajectory, or is a rise imminent? Going by historical performance, there is a high chance of a rise for Boston Scientific stock over the next month. Of 102 instances in the last ten years that BSX stock saw a twenty-one-day fall of 9% or more, 74 resulted in BSX stock rising over the subsequent one-month period (twenty-one trading days). This historical pattern reflects 74 out of 102, or about a 73% chance of a rise in BSX stock over the next month. See our analysis of Boston Scientific Stock Chance of Rise for more details.

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Calculation of ‘Event Probability‘ and ‘Chance of Rise‘ using the last ten years’ data

  • After moving 1% or more over five days, the stock rose on 53% of the occasions in the next five days.
  • After moving 3% or more over ten days, the stock rose on 58% of the occasions in the next ten days.
  • After moving -9% or more over a twenty-one-day period, the stock rose on 73% of the occasions in the next twenty-one days.

This pattern suggests a higher chance of a rise in BSX stock over the next five days, ten days, and the next month.

Boston Scientific (BSX) Stock Return (Recent) Comparison With Peers

  • Five-Day Return: ABT highest at 2.3%; ILMN lowest at -4.7%
  • Ten-Day Return: ABT highest at 3.7%; ILMN lowest at -4.8%
  • Twenty-One Day Return: ABT highest at -7.5%; ILMN lowest at -23.0%

While BSX stock may see higher levels, the Covid-19 crisis has created many pricing discontinuities, which can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for Boston Scientific vs. Corcept Therapeutics.

BSX stock has seen a fall of 9% this year, but can it drop further? See how low Boston Scientific stock can go by comparing its decline in previous market crashes. Here is a performance summary of all stocks in previous market crashes.

What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.

 Returns Jul 2022
MTD [1]
2022
YTD [1]
2017-22
Total [2]
 BSX Return 0% -12% 72%
 S&P 500 Return 0% -21% 69%
 Trefis Multi-Strategy Portfolio 1% -26% 193%

[1] Month-to-date and year-to-date as of 7/1/2022
[2] Cumulative total returns since the end of 2016

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