Boston Scientific (NYSE:BSX) Announces Quarterly Earnings Results

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

Boston Scientific Stock Performance

Boston Scientific stock 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 company has a market cap of $109.96 billion, a PE ratio of 62.98, a PEG ratio of 2.47 and a beta of 0.78. The company’s 50-day moving average is $76.49 and its two-hundred day moving average is $70.32. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $79.43.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BSX. UBS Group boosted their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Mizuho boosted their target price on shares of Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. The Goldman Sachs Group started coverage on shares of Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 target price on the stock. Evercore ISI upped their price target on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Finally, TD Cowen upped their price target 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. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.76.

Insider Activity

In other news, EVP Arthur C. Butcher sold 14,011 shares of the company’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 sale, the executive vice president now directly 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 SEC, which is accessible through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the sale, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The disclosure for this sale can be found here. Insiders sold a total of 62,441 shares of company stock valued at $4,624,453 in the last ninety days. 0.50% of the stock is owned by 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.