Boston Scientific (NYSE:BSX) Issues Q3 Earnings Guidance

Boston Scientific (NYSE:BSX) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.57 to $0.59 for the period, compared to the consensus EPS estimate of $0.57. The company issued revenue guidance of +13 to +15% yr/yr or $3.986 billion to $4.056 billion, compared to the consensus revenue estimate of $3.96 billion. Boston Scientific also updated its FY 2024 guidance to 2.380-2.420 EPS.

Wall Street Analyst Weigh In

BSX has been the topic of a number of analyst reports. Citigroup upped their price target on Boston Scientific from $87.00 to $90.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Royal Bank of Canada reissued an outperform rating and set a $85.00 target price on shares of Boston Scientific in a research report on Thursday. StockNews.com upgraded shares of Boston Scientific from a hold rating to a buy rating in a research report on Wednesday. Truist Financial increased their price objective on shares of Boston Scientific from $86.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley boosted their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the company an overweight rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $84.76.

Boston Scientific Trading Up 1.4 %

NYSE:BSX traded up $1.05 during trading hours on Friday, reaching $75.31. The company’s stock had a trading volume of 4,034,964 shares, compared to its average volume of 6,270,179. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The firm 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. The firm has a 50-day simple moving average of $76.48 and a 200-day simple moving average of $70.20. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $79.43.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The firm 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 business earned $0.53 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Research analysts expect that Boston Scientific will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other 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 SEC, which is accessible through this link. In other Boston Scientific news, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eric Francis Yves Thepaut sold 12,931 shares of Boston Scientific stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $74.14, for a total value of $958,704.34. Following the completion of the sale, the executive vice president now owns 31,422 shares in the company, valued at $2,329,627.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,441 shares of company stock worth $4,624,453. 0.50% of the stock is currently 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.