Boston Scientific (NYSE:BSX) Issues Q2 Earnings Guidance

Boston Scientific (NYSE:BSX) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.57-0.59 for the period, compared to the consensus earnings per share estimate of $0.56. The company issued revenue guidance of +10.5-12.5% yr/yr to ~$3.98-4.05 billion, compared to the consensus revenue estimate of $3.93 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.

Boston Scientific Stock Up 0.2 %

Shares of Boston Scientific stock traded up $0.13 during trading on Friday, hitting $73.39. 3,847,683 shares of the stock traded hands, compared to its average volume of 6,525,624. The stock’s fifty day simple moving average is $67.68 and its 200 day simple moving average is $60.37. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $74.39. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm has a market cap of $107.67 billion, a P/E ratio of 61.61, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same quarter in the previous year, the company posted $0.45 earnings per share. On average, equities analysts predict that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. UBS Group upped their target price on Boston Scientific from $74.00 to $90.00 and gave the company a buy rating in a report on Thursday. Raymond James lifted their price objective on Boston Scientific from $73.00 to $85.00 and gave the company a strong-buy rating in a research note on Thursday. Evercore ISI lifted their price objective on Boston Scientific from $72.00 to $78.00 and gave the company an outperform rating in a research note on Thursday. Robert W. Baird raised their target price on Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $75.09.

Insider Activity at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,979 shares of company stock valued at $3,418,529. Insiders own 0.50% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.