Boston Scientific (BSX) Expected to Announce Earnings of $0.31 Per Share
Equities research analysts expect Boston Scientific (NYSE:BSX) to announce earnings per share of $0.31 for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Boston Scientific’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.33. Boston Scientific posted earnings of $0.29 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The business is scheduled to report its next quarterly earnings results before the market opens on Wednesday, April 25th.
On average, analysts expect that Boston Scientific will report full-year earnings of $1.37 per share for the current financial year, with EPS estimates ranging from $1.35 to $1.39. For the next year, analysts anticipate that the company will report earnings of $1.54 per share, with EPS estimates ranging from $1.52 to $1.58. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Boston Scientific.
Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Thursday, February 1st. The medical equipment provider reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. Boston Scientific had a return on equity of 24.27% and a net margin of 1.15%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS.
Boston Scientific stock opened at $28.84 on Thursday. The stock has a market cap of $39,652.43, a price-to-earnings ratio of 22.89, a PEG ratio of 2.09 and a beta of 0.81. Boston Scientific has a 52-week low of $24.54 and a 52-week high of $29.93. The company has a quick ratio of 0.49, a current ratio of 0.68 and a debt-to-equity ratio of 0.54.
In related news, EVP Kevin J. Ballinger sold 42,803 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $28.32, for a total value of $1,212,180.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $27.22, for a total value of $136,100.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 238,903 shares of company stock worth $6,497,699. 0.73% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BSX. Arrowstreet Capital Limited Partnership lifted its holdings in Boston Scientific by 371.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,149,847 shares of the medical equipment provider’s stock worth $177,245,000 after purchasing an additional 5,633,721 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Boston Scientific by 149.1% during the 3rd quarter. Prudential Financial Inc. now owns 4,762,674 shares of the medical equipment provider’s stock worth $138,928,000 after acquiring an additional 2,850,630 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Boston Scientific by 59.0% during the 4th quarter. Two Sigma Advisers LP now owns 7,426,814 shares of the medical equipment provider’s stock worth $184,111,000 after acquiring an additional 2,756,504 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Boston Scientific by 29.3% during the 4th quarter. Wells Fargo & Company MN now owns 11,945,671 shares of the medical equipment provider’s stock worth $296,133,000 after acquiring an additional 2,705,194 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Boston Scientific by 79.2% during the 4th quarter. Two Sigma Investments LP now owns 3,702,539 shares of the medical equipment provider’s stock worth $91,786,000 after acquiring an additional 1,635,881 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.
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About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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