Boston Scientific (NYSE:BSX) Releases Q2 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.57-0.59 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BSX. Evercore ISI lifted their price objective on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. BTIG Research reiterated a buy rating and set a $64.00 price target on shares of Boston Scientific in a research report on Friday, December 29th. StockNews.com downgraded shares of Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. TD Cowen upped their target price on Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a research note on Thursday, March 7th. Finally, Mizuho upgraded Boston Scientific from a neutral rating to a buy rating and upped their price objective for the stock from $65.00 to $80.00 in a research report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific presently has an average rating of Moderate Buy and an average price target of $69.00.

Boston Scientific Trading Up 5.7 %

NYSE BSX traded up $3.92 during trading hours on Wednesday, hitting $72.91. 14,206,418 shares of the company’s stock were exchanged, compared to its average volume of 6,540,234. The stock has a 50-day simple moving average of $67.39 and a 200 day simple moving average of $60.19. The firm has a market cap of $106.97 billion, a price-to-earnings ratio of 68.14, a PEG ratio of 2.38 and a beta of 0.78. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $74.39.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, equities analysts forecast that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insider Activity

In related news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction on Monday, April 1st. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction on Monday, April 1st. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock worth $3,418,529 over the last 90 days. 0.50% of the stock is currently 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.