Boston Scientific (NYSE:BSX) Updates FY 2024 Earnings Guidance

Boston Scientific (NYSE:BSX) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.380-2.420 for the period, compared to the consensus earnings per share estimate of 2.330. The company issued revenue guidance of $16.2 billion-$16.3 billion, compared to the consensus revenue estimate of $16.0 billion. Boston Scientific also updated its FY24 guidance to $2.38 to $2.42 EPS.

Wall Street Analysts Forecast Growth

BSX has been the topic of several recent research reports. Royal Bank of Canada restated an outperform rating and set a $85.00 target price on shares of Boston Scientific in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on Boston Scientific from $73.00 to $78.00 and gave the stock a hold rating in a research report on Thursday. Needham & Company LLC upped their price target on Boston Scientific from $82.00 to $86.00 and gave the stock a buy rating in a report on Thursday. TD Cowen boosted their target price on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $84.76.

Boston Scientific Stock Up 0.9 %

NYSE:BSX opened at $74.95 on Friday. 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 stock has a 50 day moving average of $76.49 and a 200-day moving average of $70.32. The firm has a market capitalization of $109.96 billion, a PE ratio of 62.98, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $79.43.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. Analysts predict that Boston Scientific will post 2.4 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the sale, the executive vice president now owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP John Bradley Sorenson sold 17,587 shares of Boston Scientific stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,620,617. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction dated 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 directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,441 shares of company stock worth $4,624,453. 0.50% of the stock is owned by company insiders.

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.