Boston Scientific (NYSE:BSX) Releases 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, topping analysts’ consensus estimates of $0.58 by $0.04, Briefing.com reports. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS.

Boston Scientific Trading Up 1.4 %

NYSE:BSX traded up $1.05 during trading hours on Friday, reaching $75.31. 4,034,964 shares of the stock were exchanged, compared to its average volume of 6,270,179. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $79.43. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average of $76.48 and a two-hundred day moving average of $70.20. The company has a market capitalization of $110.49 billion, a price-to-earnings ratio of 62.40, a PEG ratio of 2.64 and a beta of 0.78.

Insider Activity

In related news, Director Charles J. Dockendorff sold 3,946 shares of the firm’s stock in a transaction dated 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 is available through the SEC website. In other Boston Scientific news, Director Charles J. Dockendorff sold 3,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the sale, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,620,617. The disclosure for this sale can be found here. Over the last ninety 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 Analysts Forecast Growth

BSX has been the topic of a number of research reports. Wells Fargo & Company raised 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, April 25th. Barclays increased their price objective on Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Argus upped their target price on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Canaccord Genuity Group raised their price target on shares of Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

About Boston Scientific

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.