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Boston Scientific Down 0.9% Since Credit Suisse Downgraded One Week Ago (BSX)

Published on Wed, 04/10/2013 - 09:11
By Adrienne Chilton

A week ago, Credit Suisse downgraded Boston Scientific from Outperform to Neutral. The shares closed at $7.82, or 0.9% under the $7.89 price of one week ago.

Boston Scientific (NYSE:BSX) is currently priced 1.1% above its average consensus analyst price target of $7.75. The stock should find initial support at its 50-day moving average (MA) of $7.50 and further support at its 200-day MA of $6.09.

Over the past year, Boston Scientific has traded in a range of $4.79 to $7.95 and is now at $7.84, 64% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.5%.

Boston Scientific Corporation develops, manufactures, and markets minimally invasive medical devices. The Company's products are used in interventional cardiology, cardiac rhythm management, peripheral interventions, electrophysiology, neurovascular intervention, endoscopy, urology, gynecology and neuromodulation.

By Adrienne Chilton