Boston Scientific (NYSE:BSX) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Boston Scientific (NYSE:BSX) released its quarterly earnings data on Wednesday. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04, Briefing.com reports. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS.

Boston Scientific Stock Performance

Shares of Boston Scientific stock traded down $3.50 on Thursday, reaching $74.26. 10,900,652 shares of the stock were exchanged, compared to its average volume of 6,285,901. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $79.43. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average price of $76.49 and a two-hundred day moving average price of $70.18. The firm has a market capitalization of $108.95 billion, a PE ratio of 63.87, a PEG ratio of 2.70 and a beta of 0.78.

Wall Street Analyst Weigh In

Several brokerages recently commented on BSX. BTIG Research lifted their price target on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Barclays lifted their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Argus lifted their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $84.76.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the transaction, the director now directly owns 41,374 shares in the company, valued at $3,032,300.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the sale, the director now directly owns 41,374 shares in the company, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. Insiders have sold a total of 72,259 shares of company stock worth $5,344,014 over the last ninety days. 0.50% of the stock is currently owned by company 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.