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

Boston Scientific (NYSE:BSX) released its quarterly earnings results on Wednesday. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04, Briefing.com reports. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year.

Boston Scientific Stock Up 1.2 %

NYSE BSX traded up $0.87 during trading on Friday, hitting $75.13. The company’s stock had a trading volume of 4,375,414 shares, compared to its average volume of 6,272,560. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The company has a market cap of $110.22 billion, a PE ratio of 62.40, a P/E/G ratio of 2.64 and a beta of 0.78. The business’s 50 day simple moving average is $76.48 and its 200-day simple moving average is $70.20. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $79.43.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the transaction, the executive vice president now owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,441 shares of company stock valued at $4,624,453. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BSX has been the topic of several recent research reports. Morgan Stanley increased their price target on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Raymond James increased their target price on Boston Scientific from $85.00 to $91.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Evercore ISI increased their target price on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. The Goldman Sachs Group began coverage on Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 target price on the stock. Finally, BTIG Research increased their target price on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.76.

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.