Boston Scientific (NYSE:BSX) Updates Q4 2024 Earnings Guidance

Boston Scientific (NYSE:BSX) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.640-0.660 for the period, compared to the consensus EPS estimate of 0.640. The company issued revenue guidance of $4.3 billion-$4.4 billion, compared to the consensus revenue estimate of $4.3 billion. Boston Scientific also updated its FY 2024 guidance to 2.450-2.470 EPS.

Boston Scientific Trading Down 0.2 %

Shares of BSX traded down $0.17 during midday trading on Friday, hitting $84.93. The stock had a trading volume of 1,829,340 shares, compared to its average volume of 6,024,712. Boston Scientific has a fifty-two week low of $49.15 and a fifty-two week high of $88.79. The business has a 50-day simple moving average of $83.19 and a two-hundred day simple moving average of $77.57. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The firm has a market cap of $124.60 billion, a P/E ratio of 71.52, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the business posted $0.50 EPS. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities analysts forecast that Boston Scientific will post 2.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley increased their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. TD Cowen boosted their price objective on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Raymond James upped their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Barclays increased their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $93.39.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock valued at $26,714,298 over the last three months. 0.50% of the stock is currently owned by corporate 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.