Boston Scientific (NYSE:BSX) Releases Q2 2024 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.570-0.590 for the period, compared to the consensus estimate of 0.560. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $3.9 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BSX shares. UBS Group lifted their price target on Boston Scientific from $74.00 to $90.00 and gave the company a buy rating in a report on Thursday. BTIG Research reaffirmed a buy rating and issued a $64.00 target price on shares of Boston Scientific in a research note on Friday, December 29th. JPMorgan Chase & Co. increased their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research note on Thursday. Mizuho boosted their price objective on shares of Boston Scientific from $80.00 to $85.00 and gave the stock a buy rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their target price on Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $75.09.

Boston Scientific Trading Up 0.2 %

BSX traded up $0.18 during mid-day trading on Friday, hitting $73.44. The stock had a trading volume of 4,914,666 shares, compared to its average volume of 6,536,134. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $74.39. The firm has a market capitalization of $107.74 billion, a price-to-earnings ratio of 61.61, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The stock’s fifty day simple moving average is $67.68 and its 200-day simple moving average is $60.37.

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

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the business’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 owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $66.35, for a total transaction of $463,322.05. Following the transaction, the executive vice president now directly owns 53,788 shares of the company’s stock, valued at $3,568,833.80. The disclosure for this sale can be found here. In the last three months, insiders sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is owned by corporate insiders.

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.