Shares of Boston Scientific Corporation (BSX) Sees Large Outflow of Money

Boston Scientific Corporation (BSX) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (6.32 million) in Boston Scientific Corporation (BSX). On Wednesday, The value of composite uptick trades was $30.12 million, whereas, the value of composite downtick trades was $36.44 million and the ratio between the two was 0.83, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $12.36 million. $6.82 million was the block trade value on upticks. The ratio between the two was clearly in favor of the bears at 0.55. The negative money flow of ($5.54 million) shows selling on strength. Boston Scientific Corporation (BSX) gained $0.51 intraday at $24.26 and registrered 2.15% for the week.


Also, Guggenheim Securities initiates coverage on Boston Scientific Corporation (NYSE:BSX). The shares have now been rated Buy by the stock experts at the ratings house. The rating by the firm was issued on June 9, 2016.

Boston Scientific Corporation (NYSE:BSX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $24.04 and $23.82 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $24.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $24.26, notching a gain of 2.15% for the day. The total traded volume was 10,868,362 . The stock had closed at $23.75 on the previous day.

The stock has recorded a 20-day Moving Average of 4.31% and the 50-Day Moving Average is 6.14%. In a related news,The officer (EVP, GC & Chief Admin Officer) of Boston Scientific Corp, Pratt Timothy A. sold 24,000 shares at $23.39 on July 1, 2016. The Insider selling transaction had a total value worth of $561,360. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Boston Scientific Corporation develops, manufactures and markets medical devices. The Company offers its products by seven core businesses: Interventional Cardiology, which includes Drug-Eluting Coronary Stent Systems, Intravascular Imaging devised and Coronary Technology products, such as guide wires, guide catheters, and balloon catheters, among others; Peripheral Interventions (PI), which include stents, balloon catheters, wires, peripheral embolization devices and vena cava filters; Cardiac Rhythm Management (CRM), which include implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities; Electrophysiology (EP), which include steerable RF ablation catheters, intracardiac ultrasound catheters, diagnostic catheters, delivery sheaths, and other accessories; Endoscopy, which includes Spyglass System, WallFlex Colonic Stents, Resolution Clip, and Expect Aspiration Needle, among others; Urology and Womens Health, and Neuromodulation.

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