Boston Scientific (NYSE:BSX – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.380-2.420 for the period, compared to the consensus EPS 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.
Boston Scientific Price Performance
Shares of Boston Scientific stock traded down $0.83 during trading on Wednesday, hitting $77.76. 15,515,857 shares of the company’s stock traded hands, compared to its average volume of 6,252,733. 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 firm’s fifty day moving average price is $76.42 and its 200 day moving average price is $70.12. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $79.43. The company has a market cap of $114.08 billion, a PE ratio of 65.35, a PEG ratio of 2.69 and a beta of 0.78.
Boston Scientific (NYSE:BSX – Get Free Report) last issued its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. Analysts forecast that Boston Scientific will post 2.32 earnings per share for the current year.
Analysts Set New Price Targets
Check Out Our Latest Analysis on Boston Scientific
Insider Activity at Boston Scientific
In related news, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the transaction, the director now directly owns 41,374 shares in the company, valued at $3,032,300.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Charles J. Dockendorff sold 3,946 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward J. Ludwig sold 9,818 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. Insiders have sold 72,259 shares of company stock worth $5,344,014 over the last ninety days. Company insiders own 0.50% of the company’s stock.
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.
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